The SSP Group Plc Board is proposing a final dividend of 2.3 pence per share (2023: 2.5 pence per share), which is subject to shareholder approval at the Annual General Meeting. This full year dividend combined with the interim dividend of 1.2 pence per share would bring the total FY24 dividend to 3.5 pence per share, a payout ratio of 35% of the underlying pre-IFRS 16 earnings per share, which is in the middle of their target payout range of 30-40%.
The final dividend will be paid, subject to shareholder approval, on 27 February 2025 to shareholders on the register on 31 January 2025. The ex-dividend date will be 30 January 2025.
Other financial highlights include:
Revenue of £3.4bn, up 17% (on a constant currency basis), including like-for-like growth of 9%
Operating profit of £206m, up 32% (on a constant currency basis) and within the range of their planning assumptions
EPS of 10.0p, up from 7.1p, in the prior year benefitting from non-recurring reductions in the interest and tax charges as highlighted in their Q4 trading update
Free cash outflow of £233m after acquisitions of £139m and capital investment of £280m
Better than expected net debt of £593m, resulting in leverage of 1.7x, returning to within their medium-term target range
