// B&M will be handing shareholders a huge dividend payment worth £250 million
// The discount retail giant made the move following a “continued strong performance”
B&M will be handing its shareholders a huge dividend payment worth approximately £250 million, thanks to a “strong performance” over the last year.
The discount retail giant announced that its board has declared a special dividend of 25p per share.
This will be the third year in a row that the Merseyside-based business has rewarded shareholders with a payment beyond the regular dividend.
In a statement to the London Stock Exchange, B&M cited its “continued strong performance versus pre-pandemic levels, with ongoing evaluation of its leverage and cash position” as its justification for the payment.
READ MORE: B&M revenue smashes £2bn but warns of “uncertain” second half
The announcement comes just one month after the group revealed that revenues rose by 1.2% to £2.27 billion for the half-year to 26 September, compared with a year earlier. B&M shares were 1.9% higher at 642p.
Shares in the company lifted after it declared the 25p per share special dividend.
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2 Comments. Leave new
A simple question: how much taxpayer support did the company receive? If none, I’m thrilled. If they did, this would be a classic transfer of wealth. (I guess I could do my homework on this…)
Don’t worry too much about tax payers support. It was less than a month ago that they were going to issue £250 million of senior notes. So, borrowing to pay ‘special’ dividends ?? Loading the company with debt?? Perhaps it will be knighthoods all round.