Begbies Traynor Group
Website:
Begbies Traynor Group
Index:
AIM
EPIC: BEG
Supersector:
Industrial Goods and Services
Sector:
Support Services
Subsector:
Business Support Services
Market Cap:
£192.31M
Payout Frequency: Semi-Annual
Begbies Traynor Group Dividend Analysis and Summary
Dividend announcement (interim)
- Dividend per share: 1.5p (up 7% year-on-year from 1.4p)
- Type: Interim dividend
- Ex-dividend date: 09/04/2026
- Record date: 10/04/2026
- Payment date: 08/05/2026
- Policy: Board reiterates a long-term progressive dividend policy; this marks eight consecutive years of dividend growth since 2017
Coverage and payout context
- H1 adjusted diluted EPS: 5.4p; coverage of the interim dividend c.3.6x
- H1 statutory diluted EPS: 3.5p; coverage of the interim dividend c.2.3x
- Reference point (FY25): total dividend 4.3p (interim 1.4p + final 2.9p) vs adjusted diluted EPS 10.5p, implying coverage of ~2.4x
Dividend sustainability and growth analysis
- Earnings support: Solid H1 with revenue +7% and adjusted PBT +5%; guidance for FY results “in line” with market expectations supports continuity of dividend growth.
- Cash generation: Free cash flow was modest at £0.6m in H1 due to working-capital absorption (lock-up increased to 4.5 months), but management highlights typical H2 cash flow seasonality; all bank covenants comfortably met.
- Balance sheet and liquidity: Net debt £5.7m (ex-IFRS16) with significant headroom in £35m facilities (RCF to 2028 with extension option). Provides capacity to fund dividends alongside acquisitions/earn-outs.
- Capital allocation: Dividend increase alongside £1.2m buybacks (mitigating dilution) and ongoing M&A indicates a balanced, disciplined approach. Interim 1.5p appears well-covered by H1 earnings and expected H2 cash generation.
- Trajectory: Eight-year growth record and reiterated progressive policy suggest continued moderate DPS growth, contingent on sustained earnings and cash conversion.
Structural changes and other factors affecting dividend outlook
- Leadership: New Group CEO (Mark Fry) and management board implemented; focus on growth and execution.
- M&A: Two property services acquisitions post-period end (Kirkby Diamond, up to £8.25m; Network Auctions, up to £1.0m). Initial consideration c.£4.0m in H2; future earn-outs c.£6.2m to Feb 2031. These expand capabilities and should support medium-term earnings, though near-term cash outflows must be managed.
- Shareholder returns: Ongoing buyback activity to offset dilution complements progressive dividend policy.
Key risks and flags to dividend stability
- Cash conversion variability: Higher lock-up (4.5 months) and H1 working-capital absorption reduced free cash flow; reliance on stronger H2 collection is a watchpoint.
- Margin headwinds: Increased employer NI reduced margins by ~0.9ppt; continued cost inflation could cap operating leverage.
- End-market mix: Restructuring remains robust, but financial advisory and commercial agency are sensitive to macro conditions; deal delays could push cash receipts into later periods.
- M&A integration and commitments: Integration risk and scheduled earn-outs create competing claims on cash, although facility headroom is ample.
Read more
Begbies Traynor Group Annual Dividend Yield - 3.54%
Dividends Used in Calculation:
| Ex-Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 10/04/2025 |
07/05/2025 |
Interim |
1.40p |
GBX |
| 09/10/2025 |
06/11/2025 |
Final |
2.90p |
GBX |
Total (Annual Dividends Per Share):
4.30p
Dividend Yield =
Annual Dividends Per Share (4.30p)
÷ Share Price (121.5p)
= 3.54%
Begbies Traynor Group Dividend History
| Ex Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 09/04/2026 |
08/05/2026 |
Interim |
1.5000p |
GBX |
| 09/10/2025 |
06/11/2025 |
Final |
2.90p |
GBX |
| 10/04/2025 |
07/05/2025 |
Interim |
1.40p |
GBX |
| 10/10/2024 |
06/11/2024 |
Final |
2.70p |
GBX |
| 11/04/2024 |
07/05/2024 |
Interim |
1.30p |
GBX |
| 05/10/2023 |
03/11/2023 |
Final |
2.60p |
GBX |
| 06/04/2023 |
05/05/2023 |
Interim |
1.20p |
GBX |
| 06/10/2022 |
03/11/2022 |
Final |
2.40p |
GBX |
| 07/04/2022 |
06/05/2022 |
Interim |
1.10p |
GBX |
| 07/10/2021 |
04/11/2021 |
Final |
2.00p |
GBX |
| 08/04/2021 |
07/05/2021 |
Interim |
1.00p |
GBX |
| 08/10/2020 |
05/11/2020 |
Final |
1.90p |
GBX |
| 09/04/2020 |
11/05/2020 |
Interim |
0.90p |
GBX |
| 10/10/2019 |
07/11/2019 |
Final |
1.80p |
GBX |
| 11/04/2019 |
09/05/2019 |
Interim |
0.80p |
GBX |
| 11/10/2018 |
08/11/2018 |
Final |
1.70p |
GBX |
| 12/04/2018 |
10/05/2018 |
Interim |
0.70p |
GBX |
| 12/10/2017 |
08/11/2017 |
Final |
1.60p |
GBX |
| 06/04/2017 |
05/05/2017 |
Interim |
0.60p |
GBX |
| 06/10/2016 |
04/11/2016 |
Final |
1.60p |
GBX |
| 07/04/2016 |
06/05/2016 |
Interim |
0.60p |
GBX |
| 08/10/2015 |
06/11/2015 |
Final |
1.60p |
GBX |
| 09/04/2015 |
08/05/2015 |
Interim |
0.60p |
GBX |
| 09/10/2014 |
07/11/2014 |
Final |
1.60p |
GBX |
| 09/04/2014 |
09/05/2014 |
Interim |
0.60p |
GBX |
| Year |
Interim |
Final |
Currency |
Total |
Change |
| 2024 |
1.300 |
2.700 |
GBX |
4.000 |
5.260 |
| 2023 |
1.200 |
2.600 |
GBX |
3.800 |
8.570 |
| 2022 |
1.100 |
2.400 |
GBX |
3.500 |
16.660 |
| 2021 |
1.000 |
2.000 |
GBX |
3.000 |
7.140 |
| 2020 |
0.900 |
1.900 |
GBX |
2.800 |
7.690 |
| 2019 |
0.800 |
1.800 |
GBX |
2.600 |
8.330 |
| 2018 |
0.700 |
1.700 |
GBX |
2.400 |
9.090 |
| 2017 |
0.600 |
1.600 |
GBX |
2.200 |
0.000 |
| 2016 |
0.600 |
1.600 |
GBX |
2.200 |
0.000 |
| 2015 |
0.600 |
1.600 |
GBX |
2.200 |
0.000 |
| 2014 |
0.600 |
1.600 |
GBX |
2.200 |
|
Begbies Traynor Group Dividend Calculator
Begbies Traynor Group Dividend Growth
| Dividend Growth (1Y) |
7.32%
|
| Dividend CAGR (5Y) |
8.7%
|
| Years of Growth |
8
|
| Payout Ratio |
65.66%
|
| Buyback Yield |
0.6%
|
| Shareholder Yield |
4.31%
|
| P/E Ratio (TTM) | 19.94 |
|---|
| Forward P/E | 10.96 |
|---|
| P/FCF | 19.04 |
|---|
| Earnings Yield | 5.15% |
|---|
| FCF Yield | 5.25% |
|---|
| ROE | 12.6% |
|---|
| ROCE | 27.61% |
|---|
| Profit Margin | 6.21% |
|---|
| Operating Margin | 18.95% |
|---|
| Gross Margin | 46.05% |
|---|