GlobalData

Website: GlobalData
Index: Main Market
EPIC: DATA
Supersector: Media
Sector: Media
Subsector: Publishing
Market Cap: £598.33M
Payout Frequency: Semi-Annual

GlobalData Dividend Analysis and Summary

Key Dividend Details

Final dividend (FY25): 1.2p per share (up 20% vs 1.0p last year’s final)
Total dividend for FY25: 1.5p per share (down 40% vs 2.5p in FY24 due to the 2024 dividend rebasing)
Interim paid: 0.3p on 03/10/2025
Ex-dividend date: 26/03/2026
Record date: 27/03/2026
Payment date: 01/05/2026
Policy: Board reiterates a progressive dividend policy alongside ongoing share buybacks

Coverage and Cash Support

Adjusted EPS (FY25): 7.3p; statutory EPS: 4.4p
Dividend cover: ~4.9x on adjusted EPS and ~3.0x on statutory EPS
Free cash flow (FY25): £34.4m; cash dividends paid in 2025: £9.9m (c.3.5x FCF cover)
Contracted Forward Revenue up 5% to £179.7m; c.80% of 2026 consensus revenue already contracted
Net bank debt: £114.2m (from £10.1m net cash), leverage ~1.0x LTM Adjusted EBITDA

Context for Dividend Investors

FY25 revenue +13% to £322.1m, but underlying growth only +1%; Adjusted EBITDA £110.2m (margin down to 34% from 41%)
Total shareholder returns augmented by substantial buybacks/tender (over £100m in 2025), reducing the share count and supporting per-share metrics
Board guides to margin recovery “towards 40%” as integrations complete and AI/product investments scale

Short, Focused Analysis

Sustainability: Post-rebasing, the ordinary dividend looks well covered by both earnings and free cash flow. Contracted revenue and stable renewals underpin cash generation, while leverage remains moderate (~1.0x), supporting ongoing distributions.
Growth trajectory: The final dividend rises 20% year-on-year (final only), but the full-year payout is lower (1.5p) reflecting the mid-2024 reset. With management targeting margin recovery and mid-single-digit underlying growth, scope exists for gradual dividend progression if execution improves.
Financial/capital allocation support: Strong FCF cover and continued buybacks indicate management preference for a balanced TSR mix. However, elevated M&A and integration activity, plus the shift to a solutions-led model, suggest capital will remain allocated dynamically between growth, buybacks, and dividends rather than prioritising a high payout.

Structural Changes and Potential Dividend Impacts

Main Market move: Expected admission on 05/03/2026—could broaden the shareholder base and support capital access; no direct change to dividend policy signalled.
Healthcare minority sale (2024): 40% non-controlling interest in Healthcare means less of that segment’s cash ultimately attributable to the parent, a consideration for long-term dividend capacity, albeit current cover remains strong.
M&A and integration: Two 2025 acquisitions (Stylus, Ai Palette). Revenue synergies are flagged as a key opportunity; near term, Non-Healthcare M&A de-prioritised while Healthcare bolt-ons continue.
Share count: Significant buybacks and a £60m tender in 2025 reduced shares outstanding, supportive for per-share dividend growth.
Management change: New CFO expected in Q3 2026; transition should be neutral near term for dividend policy.

Risks and Flags to Dividend Stability

Execution/margin risk: EBITDA margin compressed to 34%; recovery depends on successful integration and sales transformation.
Underlying growth softness: Only +1% underlying revenue growth; value renewal rate fell 4pts, indicating some pricing/mix pressure.
Leverage and interest costs: Net debt rose to £114.2m; finance costs increased (+18%). Still manageable at ~1.0x leverage but reduces flexibility if trading softens.
Quality of earnings: FY25 PBT benefited from a £20.5m non-cash share-based payment credit; not repeatable. Reliance on adjusted metrics should be monitored.
Healthcare sector headwinds: US pricing pressures and biotech softness persist; note the large impairment in parent-only accounts (no consolidated impact) as a signal of environment challenges.

GlobalData Annual Dividend Yield - 1.6%

Dividends Used in Calculation:

Ex-Dividend Date	Payment Date	Type	Amount	Currency
20/03/2025	02/05/2025	Final	1.00p	GBX
04/09/2025	03/10/2025	Interim	0.30p	GBX

Total (Annual Dividends Per Share): 1.30p

Dividend Yield = Annual Dividends Per Share (1.30p) ÷ Share Price (81.4p) = 1.6%

Ex Dividend Date	Payment Date	Type	Amount	Currency
26/03/2026	01/05/2026	Final	1.2000p	GBX
04/09/2025	03/10/2025	Interim	0.30p	GBX
20/03/2025	02/05/2025	Final	1.00p	GBX
05/09/2024	04/10/2024	Interim	1.50p	GBX
21/03/2024	26/04/2024	Final	3.20p	GBX
07/09/2023	06/10/2023	Interim	1.40p	GBX
30/03/2023	28/04/2023	Final	18.30p	GBX
08/09/2022	07/10/2022	Interim	7.70p	GBX
31/03/2022	29/04/2022	Final	13.20p	GBX
02/09/2021	01/10/2021	Interim	6.10p	GBX
25/03/2021	23/04/2021	Final	11.60p	GBX
27/08/2020	02/10/2020	Interim	5.40p	GBX
26/03/2020	26/04/2020	Final	10.00p	GBX
26/03/2020	09/06/2020	Final	10.0p	GBX
29/08/2019	03/10/2019	Interim	5.00p	GBX
21/03/2019	26/04/2019	Final	7.50p	GBX
30/08/2018	03/10/2018	Interim	3.50p	GBX
15/03/2018	27/04/2018	Final	5.00p	GBX
31/08/2017	03/10/2017	Interim	3.00p	GBX
13/04/2017	12/05/2017	Final	4.00p	GBX
11/08/2016	09/09/2016	Interim	2.50p	GBX
12/05/2016	03/06/2016	Final	2.50p	GBX

Year	Interim	Final	Currency	Total	Change
2024	1.500	1.000	GBX	2.500	-45.650
2023	1.400	3.200	GBX	4.600	-82.300
2022	7.700	18.300	GBX	26.000	34.710
2021	6.100	13.200	GBX	19.300	13.520
2020	5.400	11.600	GBX	17.000	-32.000
2019	5.000	20.000	GBX	25.000	127.270
2018	3.500	7.500	GBX	11.000	-8.330
2017	3.000	9.000	GBX	12.000	140.000
2016	2.500	2.500	GBX	5.000

GlobalData Dividend Calculator

Number of Shares:

Payment	Paid	Amount
Next	–	–
Previous	–	–

GlobalData Dividend Growth

Dividend Growth (1Y)	-40%
Dividend CAGR (5Y)	-8.82%
Years of Growth	–
Payout Ratio	29.91%
Buyback Yield	6.23%
Shareholder Yield	8.07%

P/E Ratio (TTM)	18.5
Forward P/E	10.45
P/FCF	13.21
Earnings Yield	5.53%
FCF Yield	7.57%
ROE	13.42%
ROCE	15.47%
Profit Margin	10.28%
Operating Margin	25.15%
Gross Margin	49.8%