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: £177.02M
Payout Frequency: Semi-Annual

Next Begbies Traynor Group Dividend

Begbies Traynor Group next goes ex-dividend on 09/04/2026. This will be the Interim dividend for 2026.

The dividend per share amount is 1.5000p (GBP) and the payment date is 08/05/2026.

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.

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 (110.8p) = 3.88%

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

Number of Shares:

Payment	Paid	Amount
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