Ashtead Group plc resulted in the Board increasing the interim dividend to 36¢ per share (2023: 15.75¢ per share). This will be paid on 7 February 2025 to shareholders on the register on 10 January 2025.
The dividend is declared in US dollars but will be paid in sterling unless shareholders elect to receive their dividend in US dollars.
Other financial highlights include:
Group rental revenue up 6%; revenue up 2%; US rental revenue up 5%; revenue up 1%
Operating profit of $1,484m (2023: $1,502m), with $77m lower gains on disposal
Adjusted profit before taxation of $1,255m (2023: $1,312m)
Adjusted earnings per share of 213.6¢ (2023: 225.8¢)
$1.7bn of capital invested in the business (2023: $2.5bn)
Free cash inflow of $420m (2023: outflow of $355m)
Net debt to EBITDA leverage of 1.7 times (2023: 1.8 times)
Commencing a share buyback programme of up to $1.5bn over the next 18 months
Proposed move to a US primary listing
Full-year guidance revised to reflect latest expectations
Their outlook is positive and we look to Sunbelt 4.0 and the future with confidence
