PPHE Hotel Group has announced an update on its capital returns policy and the payment of an interim dividend. The company reported strong operational and financial progress in its unaudited Interim Results for the six months ended 30 June 2023, with revenue growth of 59% to £180.0 million and EBITDA growth of 166% to £45.2 million. As a result, the Group has decided to return to its historic capital returns policy of distributing approximately 30% of adjusted EPRA earnings. The Group has completed a consultation process with shareholders and has decided to approve the payment of an interim dividend of 16 pence per share, a year-on-year increase of 13 pence per share. The dividend will be paid on 27 October 2023 to shareholders on the register on 6 October 2023. The Board will continue to review the capital returns policy.
Boris Ivesha, President & Chief Executive Officer of PPHE Hotel Group, commented: "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 policy. We would like to thank our shareholders for sharing their views, which the Board have 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."