Bioventix
Website:
Bioventix
Index:
AIM
EPIC: BVXP
Supersector:
Health Care
Sector:
Pharmaceuticals and Biotechnology
Subsector:
Biotechnology
Market Cap:
£103
Payout Frequency: Semi-Annual
Bioventix Dividend Analysis and Summary
Declared Dividend and Key Dates
- Dividend declared: Second interim dividend of 80p per share
- Total FY26 dividends: 150p per share (First interim 70p + Second interim 80p), flat vs FY25 (150p)
- Ex-dividend date: 05/11/2026
- Record date: 06/11/2026
- Payment date: 20/11/2026
- Policy/commentary: Board cites “established dividend policy” and available cashflows; almost all FY26 cash generated was returned as dividends
Coverage and Cash Support
- Basic EPS: 145.74p; DPS: 150p ? earnings cover c. 0.97x (below 1x)
- Operating cash flow: c. £8.0m vs dividends paid £7.84m ? cash cover ~1.0x
- Year-end net cash: £5.3m (FY25: £5.1m); no net debt (only small finance leases)
- Profitability: PBT £10.23m (+1%); revenue £13.0m (-0.8%)
Dividend Sustainability and Growth Outlook
- Sustainability near term: Supported by strong margins, steady cash generation, and a net cash balance. However, the payout exceeded earnings, so coverage relies on cash flow resilience.
- Growth trajectory: Dividend held flat year-on-year amid slight revenue decline—suggests a cautious stance while core markets face headwinds. Upside depends on neurology royalties scaling from a low base (Tau/neuro royalties up to £257k, still small vs total revenue).
- Financial and capital allocation alignment: Company continues a high payout approach (returned “almost all” cash generated). Low capex and modest R&D spend (~£1.46m) preserve capacity to pay but leave limited buffer if trading softens.
Structural/Policy Developments Affecting Future Dividends
- No structural changes (no M&A, demergers, or share consolidation) disclosed.
- Contract roll-offs: A progesterone contract ended in FY26, removing c. £400k annual revenue going forward.
- Known future step-down: Siemens troponin royalties to terminate in June 2032.
- Currency exposure: 50–60% of sales linked to USD; company does not hedge—FX can impact sterling revenues and cash generation.
Risks and Flags Relevant to Dividend Stability
- Tight coverage: DPS > EPS in FY26; cash cover ~1.0x leaves little headroom if cash generation dips.
- Core headwinds: Vitamin D revenue down 4%; continued pressure in China (procurement changes, “China First,” local supplier competition).
- Portfolio transition risk: Royalty streams have 10–15 year lives and long development lead times; neurology ramp is promising but timing/scale uncertain.
- Customer/contract concentration: Specific contract terminations (progesterone) and future known expiries (troponin) increase reliance on new assays (e.g., p-Tau217, eMTBR-Tau) to backfill revenue.
- FX risk: Unhedged USD/EUR exposure can swing reported revenue and cash.
Read more
Bioventix Annual Dividend Yield - 7.61%
Dividends Used in Calculation:
| Ex-Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 09/04/2026 |
24/04/2026 |
Interim |
70.0000p |
GBX |
| 05/11/2026 |
20/11/2026 |
2nd Interim |
80.0000p |
GBX |
Total (Annual Dividends Per Share):
150.00p
Dividend Yield =
Annual Dividends Per Share (150.00p)
÷ Share Price (1970p)
= 7.61%
Bioventix Dividend History
| Ex Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 05/11/2026 |
20/11/2026 |
2nd Interim |
80.0000p |
GBX |
| 09/04/2026 |
24/04/2026 |
Interim |
70.0000p |
GBX |
| 06/11/2025 |
21/11/2025 |
2nd Interim |
80.0000p |
GBX |
| 10/04/2025 |
25/04/2025 |
1st Interim |
70.00p |
GBX |
| 07/11/2024 |
21/11/2024 |
2nd Interim |
87.00p |
GBX |
| 11/04/2024 |
26/04/2024 |
1st Interim |
68.00p |
GBX |
| 09/11/2023 |
24/11/2023 |
2nd Interim |
90.00p |
GBX |
| 06/04/2023 |
21/04/2023 |
1st Interim |
62.00p |
GBX |
| 03/11/2022 |
18/11/2022 |
2nd Interim |
74.00p |
GBX |
| 03/11/2022 |
18/11/2022 |
Special |
26.00p |
GBX |
| 07/04/2022 |
22/04/2022 |
1st Interim |
52.00p |
GBX |
| 28/10/2021 |
12/11/2021 |
2nd Interim |
62.00p |
GBX |
| 28/10/2021 |
12/11/2021 |
Special |
38.00p |
GBX |
| 08/04/2021 |
23/04/2021 |
1st Interim |
43.00p |
GBX |
| 29/10/2020 |
13/11/2020 |
2nd Interim |
52.00p |
GBX |
| 29/10/2020 |
13/11/2020 |
Special |
53.00p |
GBX |
| 09/04/2020 |
28/04/2020 |
Interim |
36.00p |
GBX |
| 31/10/2019 |
15/11/2019 |
Special |
47.00p |
GBX |
| 31/10/2019 |
15/11/2019 |
Final |
43.00p |
GBX |
| 11/04/2019 |
26/04/2019 |
Interim |
30.0p |
GBX |
| 25/10/2018 |
09/11/2018 |
Special |
55.00p |
GBX |
| 25/10/2018 |
09/11/2018 |
Final |
36.00p |
GBX |
| 05/04/2018 |
20/04/2018 |
Interim |
25.00p |
GBX |
| 26/10/2017 |
10/11/2017 |
Final |
31.00p |
GBX |
| 26/10/2017 |
10/11/2017 |
Special |
40.0p |
GBX |
| 06/04/2017 |
21/04/2017 |
Interim |
20.0p |
GBX |
| 27/10/2016 |
11/11/2016 |
Final |
26.00p |
GBX |
| 27/10/2016 |
11/11/2016 |
Special |
20.0p |
GBX |
| 07/04/2016 |
22/04/2016 |
Interim |
16.50p |
GBX |
| 15/10/2015 |
30/10/2015 |
Final |
21.60p |
GBX |
| 09/04/2015 |
24/04/2015 |
Interim |
11.00p |
GBX |
| 16/10/2014 |
31/10/2014 |
2nd Interim |
14.40p |
GBX |
| 07/05/2014 |
27/05/2014 |
Interim |
9.60p |
GBX |
| Year |
Interim |
Final |
Special |
Currency |
Total |
Change |
| 2024 |
|
|
|
GBX |
155.000 |
1.970 |
| 2023 |
|
|
|
GBX |
152.000 |
0.000 |
| 2022 |
|
|
26.000 |
GBX |
152.000 |
6.290 |
| 2021 |
|
|
38.000 |
GBX |
143.000 |
1.410 |
| 2020 |
36.000 |
|
53.000 |
GBX |
141.000 |
17.500 |
| 2019 |
30.000 |
43.000 |
47.000 |
GBX |
120.000 |
3.440 |
| 2018 |
25.000 |
36.000 |
55.000 |
GBX |
116.000 |
27.470 |
| 2017 |
20.000 |
31.000 |
40.000 |
GBX |
91.000 |
45.600 |
| 2016 |
16.500 |
26.000 |
20.000 |
GBX |
62.500 |
91.710 |
| 2015 |
11.000 |
21.600 |
|
GBX |
32.600 |
35.830 |
| 2014 |
9.600 |
|
|
GBX |
24.000 |
|
Bioventix Dividend Calculator
Bioventix Dividend Growth
| Dividend Growth (1Y) |
–
|
| Dividend CAGR (5Y) |
0.96%
|
| Years of Growth |
–
|
| Payout Ratio |
102.92%
|
| Buyback Yield |
-0.17%
|
| Shareholder Yield |
7.44%
|
| P/E Ratio (TTM) | 13.72 |
|---|
| Forward P/E | 13.76 |
|---|
| P/FCF | 13.06 |
|---|
| Earnings Yield | 7.29% |
|---|
| FCF Yield | 7.66% |
|---|
| ROE | 66.31% |
|---|
| ROCE | 87.76% |
|---|
| Profit Margin | 58.7% |
|---|
| Operating Margin | 77.28% |
|---|
| Gross Margin | 91.45% |
|---|