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SMWH Wh Smith Plc

1,148.00
-4.00 (-0.35%)
24 Jan 2025 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Wh Smith Plc SMWH London Ordinary Share
  Price Change Price Change % Share Price Last Trade
-4.00 -0.35% 1,148.00 16:35:24
Open Price Low Price High Price Close Price Previous Close
1,141.00 1,141.00 1,165.00 1,148.00 1,152.00
more quote information »
Industry Sector
GENERAL RETAILERS

Wh Smith SMWH Dividends History

Announcement Date Type Currency Dividend Amount Ex Date Record Date Payment Date
14/11/2024FinalGBP0.22616/01/202517/01/202506/02/2025
25/04/2024InterimGBP0.1111/07/202412/07/202401/08/2024
09/11/2023FinalGBP0.20811/01/202412/01/202401/02/2024
20/04/2023InterimGBP0.08113/07/202314/07/202303/08/2023
10/11/2022FinalGBP0.09105/01/202306/01/202326/01/2023

Top Dividend Posts

Top Posts
Posted at 26/1/2025 15:36 by essentialinvestor
justice, many UK retailers have been de-rated sharply over the last 6 months - from Greggs to Marks to ABF (Primark) and Dunelm.

The current rating for SMWH looks about fair v the wider sector. Some at least fleeting bounce at the Monday open would expect.
Posted at 15/11/2024 18:33 by mutandis
It is worth breaking down the net debt of £997m:

lease liabilities represent the majority at £626m, with an average life of 4 years; the repayment of this will be covered in arriving at the earnings of the business through depreciation and interest over the next 4 years (for example over £180m lease payments were covered in FY24 in arriving at earnings)

£371m is a convertible bond (convertible at £24.99 on 7 May 2026), if conversion does not take place, then it must be repaid, this is currently covered by a revolving credit facility that expires 3 years after the conversion date. If necessary, this could be paid down over approximately 3 years after May 26 from free cash flow(FCF) after paying dividends (FCF in FY24 was £144m and dividend payments £41m).

The balance of the net debt is £61m.

In addition, there is the £75m of cash refund from the pension buy-out (£50m of this is earmarked for share buybacks) and another £12m held in an investment fund for 2 years.
Posted at 14/11/2024 17:32 by mutandis
Missing consensus forecasts by ~2% likely explains the price drop today, still a good LT income investment. Dividend well covered by earnings and free cash flow.
Posted at 14/11/2024 14:08 by justiceforthemany
Results decent IMO.
Unwarranted drop.
Dividend hiked.
Posted at 11/7/2024 18:38 by blueball
Ex dividend tomorrow.
Posted at 26/4/2024 12:31 by essentialinvestor
Are those 'extra' closures in the US msrket I wonder?..

IF so, that may suggest SMWH are at risk of prioritising
space expansion over quality.

Needs to be watched.
Posted at 26/4/2024 11:39 by essentialinvestor
Yes, but they don't own their locations, they are leased - hence the £1 bn in net debt.

History is littled with successful UK retail formats running in to trouble in the US market. Perhaps SMWH will be an exception to the general rule.
Posted at 25/4/2024 17:15 by essentialinvestor
justice, Woolworths was an iconic British brand, as was BHS...(just two examples from a very long list).

It's a retailer that is betting very big on the US market. Can SMWH replicate their UK success stateside, is key to the valuation.
Posted at 25/4/2024 11:48 by essentialinvestor
So including lease liabilities, SMWH net debt is now over £1 bn and a chunk of their current borrowing needs to be refinanced in 2026 - and this is currently at an ultra liw ZIRP era rate.
Posted at 25/4/2024 11:25 by essentialinvestor
I've got this on a watch list, however ABF (Primark) is available on 13 X approx, with a net cash position if you net off lease liabilities.

Is SMWH on 13 X such a bargain, given significantly higher gearing..?.

The North American result looks mediocre, on this read at least.

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