By Sean Farrell
Date: Thursday 29 Jul 2021
LONDON (ShareCast) - (Sharecast News) - BAE Systems increased its dividend and announced a £500m share buyback as the arms and aerospace company reported a 61% increase in first-half profit.
Operating profit for the six months to the end of June rose to £1.3bn from £808m a year earlier as revenue increased to £9.34bn from £9.18bn. Sales at constant currency increased 6% to £10bn.
BAE increased its interim dividend by 5% to 9.9p a share and said it would buy back £500m of its shares over the next 12 months. Free cash flow was £461m compared with an outflow of £110m a year earlier excluding a £1bn pension contribution.
The FTSE 100 group said it was confident in full-year guidance for sales to increase 3-5% despite the stronger pound and underlying earnings per share to increase by the same range.
Charles Woodburn, BAE's chief executive, said: "Thanks to the outstanding efforts of our employees across the group, we have delivered a strong first half performance which underlines our confidence in the full-year guidance. We are driving enhanced cash generation. This enables us today to announce a 5% increase in the interim dividend as well as initiating a new share buyback programme of up to £500m."
Email this article to a friend
or share it with one of these popular networks:
Currency | UK Pounds |
Share Price | 1,316.00p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 1,369.00 |
52 Week Low | 888.20 |
Volume | 0 |
Shares Issued | 3,022.85m |
Market Cap | £39,781m |
RiskGrade | 108 |
Value |
---|
Price Trend |
---|
Income |
---|
Growth |
---|
Strong Buy | 7 |
Buy | 6 |
Neutral | 7 |
Sell | 1 |
Strong Sell | 0 |
Total | 21 |
Latest | Previous | |
---|---|---|
Final | Interim | |
Ex-Div | 18-Apr-24 | 19-Oct-23 |
Paid | 03-Jun-24 | 30-Nov-23 |
Amount | 18.50p | 11.50p |
You are here: research