In line with Nichols plc's dividend policy, dividend cover is broadly 2x the adjusted earnings of the group. As a result, the interim dividend for 2024 will be 14.9p per share, to be paid on 6 September 2024 with a record date of 2 August 2024 and an ex-dividend date of 1 August 2024.
In the group's preliminary results statement, their board set out its approach to capital allocation and committed to identifying surplus cash reserves for distribution to shareholders. Having considered the investment needs and capital structure of the business, their board has approved a special dividend of 54.8p per share equivalent to an aggregate distribution of £20m. This payment reflects a long history of strong cash flow generation by Nichols and their board's confidence in its future prospects. They will continue to keep their capital allocation policy under review ensuring we maintain sufficient resources to fund future growth opportunities, whilst balancing shareholder returns.
