FIH Group
Website:
FIH Group
Index:
AIM
EPIC: FIH
Supersector:
Industrial Goods and Services
Sector:
Support Services
Subsector:
Business Support Services
Market Cap:
£25.67M
Payout Frequency: Semi-Annual
FIH Group Dividend Analysis and Summary
Key Dividend Details
- Type: Special interim dividend (from disposal proceeds)
- Amount: 40 pence per share
- Ex-dividend date: 04/06/2026
- Record date: 05/06/2026
- Payment date: 14/07/2026
- Dividend Reinvestment Plan (DRIP): Available; application deadline 23/06/2026 (existing participants auto-reinvest)
- Cumulative returns from recent disposals: 110 pence per share (includes 70p special paid on 31 Oct 2025), total c. £13.8m
Context and Funding
- Funded by asset disposals: £10.7m net proceeds from sale of The Portsmouth Harbour Ferry Company (no corporation tax expected under SSE) and £11.8m before tax/costs from the Momart Leyton property sale-and-leaseback (with £0.8m deferred, contingent on two years’ lease compliance).
- Transaction-related bonuses to executives of c. £717k (excluding employer taxes) reduce net cash available for distribution.
Sustainability and Growth Outlook
- The 40p payment is explicitly a one-off special tied to disposals; it does not indicate a step-up in the ordinary dividend.
- Post-disposal earnings capacity likely lower: PHFC profits exit the group, while the Momart sale-and-leaseback introduces ongoing rental expense—both factors tend to reduce recurring free cash flow that supports ordinary dividends.
- The RNS provides no guidance on ordinary dividend policy or cover; sustainability of future regular dividends will depend on cash generation from remaining businesses (Falkland Islands Company and Momart) and capital allocation priorities.
Structural Changes and Capital Allocation Signals
- Disposal of PHFC completed (share sale). Removes a business line and associated earnings/ cash flow.
- Sale-and-leaseback of Momart’s Leyton warehouse completed (asset-light shift; adds lease/rent commitments).
- Capital returned primarily via special dividends rather than buybacks; no share consolidation announced.
- Use of SSE minimizes tax leakage on the PHFC sale, supporting the quantum of the special dividend.
Risks and Flags for Dividend Stability
- One-off nature of special dividends; ordinary dividend trajectory remains unclear.
- Earnings base reduced after PHFC disposal; higher lease costs from sale-and-leaseback may pressure future dividend cover.
- Governance/cost: notable executive bonuses tied to disposals dilute proceeds for shareholders (optics risk).
- Deferred consideration of £0.8m from the property deal is contingent on lease compliance over two years—timing/receipt risk (though not material to the 40p payment).
- Execution risk in remaining businesses (Falklands exposure and art logistics cyclicality) could introduce cash flow volatility affecting future payouts.
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FIH Group Annual Dividend Yield - 38.33%
Dividends Used in Calculation:
| Ex-Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 02/01/2025 |
14/02/2025 |
Interim |
1.25p |
GBX |
| 25/09/2025 |
31/10/2025 |
Special |
70.00p |
GBX |
| 25/09/2025 |
31/10/2025 |
Final |
5.50p |
GBX |
Total (Annual Dividends Per Share):
76.75p
Dividend Yield =
Annual Dividends Per Share (76.75p)
÷ Share Price (200.25p)
= 38.33%
FIH Group Dividend History
| Ex Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 08/01/2026 |
13/02/2026 |
Interim |
1.2500p |
GBX |
| 25/09/2025 |
31/10/2025 |
Special |
70.00p |
GBX |
| 25/09/2025 |
31/10/2025 |
Final |
5.50p |
GBX |
| 02/01/2025 |
14/02/2025 |
Interim |
1.25p |
GBX |
| 26/09/2024 |
30/10/2024 |
Final |
5.50p |
GBX |
| 26/09/2024 |
30/10/2024 |
Special |
10.0p |
GBX |
| 30/11/2023 |
12/01/2024 |
Interim |
1.25p |
GBX |
| 28/09/2023 |
31/10/2023 |
Final |
5.30p |
GBX |
| 01/12/2022 |
13/01/2023 |
Interim |
1.20p |
GBX |
| 22/09/2022 |
31/10/2022 |
Final |
2.00p |
GBX |
| 02/12/2021 |
14/01/2022 |
Interim |
1.00p |
GBX |
| 12/12/2019 |
24/01/2020 |
Interim |
1.80p |
GBX |
| 15/08/2019 |
20/09/2019 |
Final |
3.35p |
GBX |
| 20/12/2018 |
25/01/2019 |
Interim |
1.65p |
GBX |
| 16/08/2018 |
21/09/2018 |
Final |
3.00p |
GBX |
| 28/12/2017 |
26/01/2018 |
Interim |
1.50p |
GBX |
| 31/08/2017 |
22/09/2017 |
Final |
4.00p |
GBX |
| 11/12/2014 |
23/01/2015 |
Interim |
4.00p |
GBX |
| 27/08/2014 |
19/09/2014 |
Final |
7.50p |
GBX |
| 11/12/2013 |
24/01/2014 |
Interim |
4.00p |
GBX |
| Year |
Interim |
Final |
Special |
Currency |
Total |
Change |
| 2024 |
|
5.500 |
10.000 |
GBX |
15.500 |
136.640 |
| 2023 |
1.250 |
5.300 |
|
GBX |
6.550 |
104.680 |
| 2022 |
1.200 |
2.000 |
|
GBX |
3.200 |
220.000 |
| 2021 |
1.000 |
|
|
GBX |
1.000 |
-80.580 |
| 2019 |
1.800 |
3.350 |
|
GBX |
5.150 |
10.750 |
| 2018 |
1.650 |
3.000 |
|
GBX |
4.650 |
-15.450 |
| 2017 |
1.500 |
4.000 |
|
GBX |
5.500 |
-52.170 |
| 2014 |
4.000 |
7.500 |
|
GBX |
11.500 |
187.500 |
| 2013 |
4.000 |
|
|
GBX |
4.000 |
|
FIH Group Dividend Calculator
FIH Group Dividend Growth
| Dividend Growth (1Y) |
–
|
| Dividend CAGR (5Y) |
159.09%
|
| Years of Growth |
4
|
| Payout Ratio |
–
|
| Buyback Yield |
–
|
| Shareholder Yield |
3.29%
|
| P/E Ratio (TTM) | – |
|---|
| Forward P/E | – |
|---|
| P/FCF | 282.04 |
|---|
| Earnings Yield | -10.38% |
|---|
| FCF Yield | 0.35% |
|---|
| ROE | -6.94% |
|---|
| ROCE | -1.71% |
|---|
| Profit Margin | -6.4% |
|---|
| Operating Margin | -2.5% |
|---|
| Gross Margin | 39.04% |
|---|