Kingfisher Finals

[tjh290633]

https://www.investegate.co.uk/kingfishe ... 00043614I/

Dividends and capital returns

The Board has proposed a final dividend of 7.49p which results in a full year dividend of 10.82p, an increase of 4% (2016/17: 10.4p). The full year dividend is covered 2.0 times by adjusted earnings (2016/17: 2.3 times). Excluding the impact of the £20 million corporate tax surcharge in France, which is not expected to recur, full year dividend cover is 2.1 times. We continue to be comfortable with medium term dividend cover in the range of 2.0 to 2.5 times based on adjusted basic earnings per share, a level the Board believes is consistent with the capital needs of the business.

The final dividend will be paid on 18 June 2018 to shareholders on the register at close of business on 4 May 2018. A dividend reinvestment plan (DRIP) is available to shareholders who would prefer to invest their dividends in the shares of the Company. The shares will go ex-dividend on 3 May 2018. For those shareholders electing to receive the DRIP the last date for receipt of election is 25 May 2018.

In January 2016 Kingfisher announced its intention to return around a further £600 million of surplus capital to shareholders during 2016/17 and the following two years. During 2017/18 £260 million (82 million shares) was returned to shareholders via share buyback in addition to the £200 million share buyback in 2016/17 (cumulatively £460 million).


The market is not impressed, SP down 7.3% at 313p at the moment.

TJH