// 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.
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.