Wesfarmers has reported a robust full-year performance, with statutory net profit after tax climbing to $2.93 billion, a 14.4 per cent increase compared to the previous year. The conglomerate’s revenue also saw growth, rising by 3.4 per cent to reach $45.7 billion. Wesfarmers is an Australian company with diverse operations, primarily in retail, including brands such as Bunnings, Kmart, and Target. It also has interests in chemicals, energy, and fertilisers.
The Wesfarmers board has declared a fully-franked final dividend of $1.11 per share. This brings the total dividends for the year to $2.06 per share, marking a 4 per cent increase year-on-year. In addition to the increased dividend payout, Wesfarmers has unveiled a substantial capital management initiative.
The initiative, valued at $1.50 per share, comprises a $1.10 per share capital return and a $0.40 per share fully-franked special dividend. This is subject to a ruling from the Australian Taxation Office and approval from shareholders at the company’s annual general meeting in October.
If approved by shareholders, the total distribution to investors will amount to approximately $1.7 billion, reflecting the company’s strong financial position and commitment to delivering value to its shareholders.
