PPHE announces increased dividend payment
Following a consultation process, the board decided to approve the payment of an interim dividend of 16 pence per share for all shareholders who are on the register on 6 October 2023
PPHE hotel group has provided an update on its capital returns policy and announced the payment of an interim dividend of 16 pence per share, a year-on-year increase of 13 pence per share.
It comes as the group said its interim results for the six months ending in June demonstrated “strong operational and financial progress”, with revenue growth of 59% to $45.2m (£37.2m) and EBITDA now recovered to pre-pandemic levels.
Amid the strong trading results, PPHE decided to return to its historic capital returns policy of distributing approximately 30% of adjusted EPRA earnings and would be consulting with shareholders about the most appropriate and effective means for the distribution to take place.
Following a consultation process, the board decided to approve the payment of an interim dividend of 16 pence per share for all shareholders who are on the register on 6 October 2023. The interim dividend will be paid on 27 October 2023.
Boris Ivesha, president and chief executive officer, PPHE, said: “We are pleased that our strong performance enables us to reward our shareholders for their continued trust and support by returning to our historical capital returns story. We would like to thank our shareholders for sharing their views, which the board has considered in detail.
“We are delighted to approve an enhanced interim dividend of 16 pence per share. The board will continue to keep its options under active review as it moves forward.”
