Cairn Homes

Website: Cairn Homes
Index: Main Market
EPIC: CRN
Supersector: Personal and Household Goods
Sector: Household Goods and Home Construction
Subsector: Home Construction
Market Cap: £1.25B
Payout Frequency: Semi-Annual

Next Cairn Homes Dividend

Cairn Homes next goes ex-dividend on 23/04/2026. This will be the Final dividend for 2026.

The dividend per share amount is 5.90¢ (EUR) and the payment date is 29/05/2026.

Key dividend details

FY2025 dividend per share (DPS): 10.0c (up 22% year-on-year from 8.2c)
Proposed final dividend: 5.9c per share (subject to AGM approval on 30/04/2026)
Ex-dividend date: 23/04/2026 (derived from record date)
Record date: 24/04/2026 (5:00 p.m.)
Payment date: 29/05/2026
Interim dividend already paid: 4.1c on 15/10/2025
FY2025 EPS: 21.3c; implied payout ratio c.47%
Indicative cash cost of the proposed final dividend: ~€37.1m (based on shares in issue at 03/03/2026)

Analysis: sustainability, growth and coverage

Earnings support: EPS rose +19% to 21.3c, operating profit up +12%, and ROE at 16.6%. The c.47% payout leaves headroom for reinvestment and buffers.
Cash coverage: FY2025 operating cash flow of €70.6m comfortably covered cash dividends paid in the year (€52.9m). Note the proposed 5.9c final will be paid in 2026.
Balance sheet and liquidity: Net debt €171.3m with available liquidity of €327.1m; leverage looks moderate relative to equity (€836.7m).
Visibility: Record closed and forward order book of €1.32bn (3,452 homes) provides strong near-term revenue support. WIP is 3.2x covered by the order book.
Trajectory: DPS lifted 22% in FY2025. Upgraded FY2026 guidance (revenue €1.05–€1.08bn, operating profit €180–€185m, ROE ~16.5%) suggests capacity to maintain or grow the dividend, assuming execution and market conditions hold.

Dividends Used in Calculation:

Ex-Dividend Date	Payment Date	Type	Amount	Currency
24/04/2025	16/05/2025	Final	4.40¢	EUX
18/09/2025	15/10/2025	Interim	4.10¢	EUX

Total (Annual Dividends Per Share): 7.35p (Using exchange rate on 18/03/2026 EUR = £0.86415)

Dividend Yield = Annual Dividends Per Share (7.35p) ÷ Share Price (194.8p) = 3.77%

Ex Dividend Date	Payment Date	Type	Amount	Currency
23/04/2026	29/05/2026	Final	5.90¢	EUX
18/09/2025	15/10/2025	Interim	4.10¢	EUX
24/04/2025	16/05/2025	Final	4.40¢	EUX
12/09/2024	04/10/2024	Interim	3.80¢	EUX
25/04/2024	17/05/2024	Final	3.20¢	EUX
14/09/2023	06/10/2023	Interim	3.10¢	EUX
20/04/2023	16/05/2023	Final	3.10¢	EUX
15/09/2022	07/10/2022	Interim	3.00¢	EUX
21/04/2022	17/05/2022	Final	2.80¢	EUX
16/09/2021	08/10/2021	Interim	2.66¢	EUX

Year	Interim	Final	Currency	Total	Change
2024	3.800	3.200	EUX	7.000	12.900
2023	3.100	3.100	EUX	6.200	6.890
2022	3.000	2.800	EUX	5.800	118.040
2021	2.660		EUX	2.660

Number of Shares:

Payment	Paid	Amount
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