January 27, 2021

sainsbury special dividend

J Sainsbury deferred a decision on whether to pay its dividend until later in the year and axed bonuses for senior management amid a cautious outlook for its non-food business in particular. Shares provides unbiased commentary, ideas, views and news on stocks, funds, pensions and savings. In April the Sainsbury's Board chose, due to limited visibility at the time on the potential impact of COVID-19 on the business, to defer dividend payment decisions and did not pay a final dividend for the 2019/20 financial year. These stores will now close permanently. Dividends are common dividends paid per share, reported as of the ex-dividend date. Unless otherwise required by applicable law, regulation or accounting standard, we do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. We have therefore decided to close permanently our meat, fish and delicatessen counters. This will be after driving efficiencies to cover inflationary cost pressures, volume-related cost increases and the cost of meeting increasing customer demand for online groceries, We are investing in the integration of our logistics and supply chain network and the accelerated restructuring of the Argos store estate, reducing costs and delivering working capital benefits, Reflecting our commitments to focus our resources and move faster, we are open to partnering or outsourcing where this efficiently accelerates our plans to improve our customer offer, We will continue our track record of strong cash generation, meeting our target of at least £750 million net debt reduction in the three years to March 2022 and generating average retail free cash flow of £500 million per year over the following three years to March 2025, Capital expenditure will increase to between £700 million and £750 million per year in the three years to March 2024 to support high returning infrastructure transformation investments before returning to around £600 million per year, We will incur one off costs from infrastructure, operating model and structure changes of £900 million to £1 billion in the period to March 2024 (approximately £300 million cash). We expect these projects to generate working capital improvements and expect cash generation to remain strong. We will continue to print the iconic Christmas Gift Guide, which is bigger and better than ever this year, We are investing in Habitat, which will become our main home and furniture brand across Sainsbury’s and Argos. The previous Sainsbury (J) plc dividend was 7.3p and it went ex 3 months ago and it was paid 1 month ago. We currently have 315 Argos stores in our supermarkets and 296 collection points across supermarkets and convenience stores. 'Ace in the hole' Sainsbury now serves over 22 million customers a week and have a market share of over 16 per cent. We will also increase our rate of new convenience store openings to at least 20 per year over the next three years, Argos sales grew by nearly 11 per cent in the first half, with 90 per cent of sales originating online and almost two million customers re-discovering Argos despite standalone Argos stores being closed for 12 weeks. Habitat is a strong brand and, by increasing its visibility in Sainsbury’s and Argos stores and online, expanding the product range and making prices more affordable, we have a significant opportunity to grow market share, Tu Clothing has delivered very strong online sales growth and the range is growing both value and volume market share, Nectar gives us a strong competitive advantage, supports our food business and is valued by our customers. These changes will help us focus on quality, value and availability, while reducing store complexity and waste, We have more than doubled our Groceries Online capacity and volume since March. Sainsbury’s forecast dividend yield for the year ahead is still a little higher than the others at 4.4%. 17 per cent of our grocery sales are now online compared with seven per cent in March. We will also make Habitat more widely available in Sainsbury’s and Argos, giving customers access to stylish home and furniture products at more affordable prices. In September we launched 200 new fresh food products as part of the biggest re-vamp of our fresh food aisles in more than a decade, We closed our meat, fish and delicatessen counters in March as we focused all our efforts on feeding the nation. Around 19 per cent of our sales were digital this time last year and nearly 40 per cent of our sales are digital today. We will refocus the role of our portfolio brands to ensure that they contribute positively in their own right, actively support our ambition in food and do not dilute returns or divert focus and resources from the core. By delivering improvements in value and quality and simplifying this business, we will do a better job for our customers and deliver an improved financial performance and stronger shareholder returns. To support our ambition in food, we are accelerating our ambition to structurally reduce our cost base right across the business so we can invest faster back into our core food offer. 4. Dividend cover. Supermarket Income REIT has snapped up a Sainsbury's and a Waitrose store for £64.8m. J Sainsbury plc (SBRY.L) pays out -3,500.00% of its earnings out as a dividend. Boss Simon Arora and his family are the biggest investors in the business, meaning he will pay himself £30m, in addition to a £44m dividend payout announced in November. All DividendMax content is provided for informational and research purposes only and is not in any way meant to represent trade or investment recommendations. We are committed to helping customers to eat more healthy products, which is good for them and good for the climate and the environment. We also saw strong growth in clothing and general merchandise, as well as in our convenience and online channels. Sainsbury reduces its 2016 interim dividend by 20%. Interim dividend of 3.3 pence per share, up 6 per cent, in line with their policy of paying 30 per cent of prior full year dividend. In general, profits from business operations can be allocated to retained earnings or paid to shareholders in the form of dividends or stock buybacks. We still expect to double profit and returns in our Financial Services business within five years, despite the challenges of COVID-19. Interim Results for the 28 weeks to 24 September 2016, Sainsbury reduces its 2015 full year dividend by 8.3%. We are currently fulfilling over 700,000 online customer orders per week across home delivery and click and collect. We know that customers are feeling the pinch and we want them to feel confident they will get always get great value, quality and service from Sainsbury’s. Dividends topics covered in this section include: Dividends direct to your bank account; Dividend Reinvestment Plan ("DRIP") Customers want tasty food, great quality, low prices and they want to ensure that the food they buy is having the lowest impact on the environment, now and in the future. In the light of improved visibility, strong trading and a strong balance sheet position, the Board has chosen to pay a special dividend in lieu of a final dividend for the 2019/20 financial year. Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from any expected future events or results referred to in these forward-looking statements. Some key examples are: Creating a new supply chain and logistics operating model, moving to a single integrated supply chain and logistics network across Sainsbury’s and Argos. We will deliver delicious, great value food wherever and however customers want to shop with us. Rebecca Reilly Sainsbury’s shares are up 3.4% this morning to 240.3p. SBRY's most recent dividend payment was made to shareholders of record on Friday, December 18. A rare one for you today as I wrap myself in a red flag and criticise a company juxtaposing a special dividend with job losses. We accept no liability whatsoever for any decision made or action taken or not taken. The latest Sainsbury (J) plc (SBRY) Ordinary 28,4/7p share price (SBRY). Building on this success we will accelerate the structural integration of Sainsbury’s and Argos and further simplify the Argos business model, making it more efficient and profitable and improving our customer offer at the same time, 120 of our standalone Argos stores have not reopened since we closed them back in March. How many times is the dividend covered by company income. These results reflect the multi-product, multi-channel shopping experience customers are looking for today and our proposed acquisition of Home Retail Group plc will accelerate our strategy in this direction. We will better align internal and external metrics and targets and will report against these consistently. In Sainsbury’s case, the figures uncannily match: £230 million of rates relief in the first half effectively funding a £160 million special dividend and an interim one worth £71 million. Sainsbury maintains its 2015 interim dividend at 5p, Sainsbury increases 2013 full year dividend by 3.6%, Sainsbury increases 2013 interim dividend by 4.2%. Groceries Online sales up 102 per cent, Statutory Group sales (excluding VAT) down 1.1 per cent, with fuel sales down 44.6 per cent, Loss before tax £(137) million, reflecting £438 million of one-off costs associated with Argos store closures and other strategic and market changes, Underlying profit before tax £301 million, Retail costs of approximately £290 million to protect customers and colleagues from COVID-19, partially offset by £230 million business rates relief, Non-lease net debt down by £912 million to £267 million, Special dividend of 7.3p to be paid in lieu of final dividend for the 2019/20 financial year, aligned to policy of 1.9x full year dividend cover by underlying earnings, Interim dividend of 3.2p, in line with policy of paying 30 per cent of prior full year dividend, Full year underlying profit before tax now expected to be at least five per cent higher than last year, reflecting stronger than expected sales, particularly at, Lower food prices, focusing on offering customers consistently good value, Accelerate food innovation, tripling the number of new products we launch each year, Profitably grow Groceries Online sales to meet further demand, Increase the rate of new Convenience store and Neighbourhood Hub openings over the next three years, Continue to reduce plastic and food waste and inspire customers to eat healthier products, which will be better for the climate and environment, as we work towards becoming Net Zero by 2040, Close our meat, fish and deli counters, based on reduced customer demand. We have an excellent track record of finding alternative roles for colleagues - for example, where we have moved colleagues from Argos standalone stores to stores in Sainsbury’s supermarkets, we have retained 90 per cent of colleagues. But the group’s profit margins are still much lower than either Tesco or Morrisons. Surely Sainsbury’s is a defensive dividend payer with a long record of unbroken dividend payments and a core supermarket business which is about as dependable as they come? Cash Dividend Payout Ratio measures the amount of cash dividends that a company pays out in comparison to their total cash flow available to shareholders. Argos sales have been strong over the past six months and we have gained almost two million new customers as people have re-connected with Argos. In the light of improved visibility, strong trading and a strong balance sheet position, the Board has chosen to pay a special dividend in lieu of a final dividend for the 2019/20 financial year. Despite Argos closures dragging the supermarket group to a half-year loss, Sainsbury’s has decided to pay a “catch up” special dividend of 7.3p and an additional 3.2p interim dividend. This will be paid on 18 December 2020 to shareholders on the Register of Members at the close of business on 13 November 2020. Add Sainsbury (J) plc to receive free notifications when they declare their dividends. Its share price is currently lower than at any time over the last 25 years and appears to be in free-fall. We will deliver a step change reduction in our retail operating costs to sales ratio of at least two percentage points by March 2024, creating around £600 million of annualised additional capacity to invest in the customer offer and deliver improved financial returns. And research purposes only and is not in any way meant to represent trade or investment recommendations dividend lieu! Now serves over 22 million customers a week and have all the recent dividend payment made! 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