Hollywood Bowl Group

Website: Hollywood Bowl Group
Index: FTSE 250
EPIC: BOWL
Supersector: Travel and Leisure
Sector: Travel and Leisure
Subsector: Recreational Services
Market Cap: £458.84M
Payout Frequency: Semi-Annual

Next Hollywood Bowl Group Dividend

Hollywood Bowl Group next goes ex-dividend on 29/01/2026. This will be the Final dividend for 2026.

The dividend per share amount is 9.1800p (GBP) and the payment date is 20/02/2026.

Key Dividend Details

Final dividend: 9.18p per share
Total ordinary DPS for FY2025: 13.28p (up 10.1% year on year)
Ex-dividend date: 29/01/2026
Record date: 30/01/2026
Payment date: 20/02/2026
Dividend policy: 55% of adjusted profit after tax on a pre-IFRS 16 basis (updated in FY2025)
Cash cost of final dividend: ~£15.3m; total FY2025 ordinary dividends ~£22.2m (interim £6.9m + proposed final £15.3m)
Dividend cover (EPS basis): 1.62x on adjusted EPS (21.51p); 1.78x on pre-IFRS 16 adjusted EPS (23.61p); 1.56x on statutory EPS (20.28p)

Financial Support for the Dividend

Adjusted PAT (pre-IFRS 16): £40.3m; policy-implied payout ~£22.2m (aligned with total ordinary dividends)
Free cash flow: £21.2m (covers cash dividends paid in FY2025 of £20.8m; excludes buybacks)
Balance sheet/liquidity: net cash £15.2m; undrawn RCF £25m at 130bps over SONIA
Capital returns: £15m buyback completed; total shareholder returns for FY2025 £37.4m

Operational Context

Revenue up 8.8% to £250.7m; adjusted EBITDA (pre-IFRS 16) £68.4m (+0.9%); statutory PAT £34.6m (+15.7%)
LFL revenue +0.6% (UK +1.1%; Canada +3.2% CC); UK volumes down 7.5% offset by higher SPG
Capex moderated to £36.5m in FY2025; guided £25–30m for FY2026

Analysis: Sustainability and Growth

Sustainability: The dividend is well anchored by a 55% payout on pre-IFRS 16 adjusted PAT and comfortable cover on both adjusted and statutory EPS. FCF broadly covered dividends paid in-year; net cash and an undrawn RCF add resilience.
Growth trajectory: DPS rose 10.1% despite essentially flat adjusted EPS year on year, reflecting confidence and the policy reset. Sustained growth will likely require delivery of FY2026 profit uplift from recent site openings/refurbs and Canadian scaling.
Cash and allocation: With capex easing in FY2026 and strong cash conversion (70% OCF conversion), the ordinary dividend appears maintainable alongside selective growth capex. Additional buybacks remain discretionary and may flex with FCF.

Structural/Policy Developments

Dividend policy change: Now based on pre-IFRS 16 adjusted PAT (aimed at reducing non-cash volatility in reported earnings).
Shareholder returns mix: £15m buyback completed in FY2025; total returns £37.4m.
Leadership changes: New Group CFO (Feb 2026) and current CFO moving to Canada CEO—no immediate impact on dividend policy, but underscores Canadian growth focus.

Risks and Flags to Dividend Stability

Cost headwinds FY2026: UK living/minimum wage increases, employer NI full-year effect, and higher business rates likely to lift operating costs.
Volume softness: UK LFL volumes fell 7.5%; continued reliance on SPG and pricing/yield management to offset could be tested in weaker macro or warmer summers.
Canada expansion/cash uses: Ongoing greenfield build-out and a contingent consideration linked to Teaquinn (undiscounted ~£5.3m expectation) are additional calls on cash in FY2026.
Mini-golf impairments: Further underperformance could prompt additional charges, though immaterial to cash and policy basis.

Dividends Used in Calculation:

Ex-Dividend Date	Payment Date	Type	Amount	Currency
30/01/2025	21/02/2025	Final	8.08p	GBX
26/06/2025	25/07/2025	Interim	4.10p	GBX

Total (Annual Dividends Per Share): 12.18p

Dividend Yield = Annual Dividends Per Share (12.18p) ÷ Share Price (274p) = 4.45%

Ex Dividend Date	Payment Date	Type	Amount	Currency
29/01/2026	20/02/2026	Final	9.1800p	GBX
26/06/2025	25/07/2025	Interim	4.10p	GBX
30/01/2025	21/02/2025	Final	8.08p	GBX
13/06/2024	10/07/2024	Interim	3.98p	GBX
01/02/2024	23/02/2024	Special	2.73p	GBX
01/02/2024	23/02/2024	Final	8.54p	GBX
08/06/2023	05/07/2023	Interim	3.27p	GBX
02/02/2023	24/02/2023	Special	3.00p	GBX
02/02/2023	24/02/2023	Final	8.53p	GBX
09/06/2022	06/07/2022	Interim	3.00p	GBX
30/01/2020	19/02/2020	Special	4.50p	GBX
30/01/2020	19/02/2020	Final	5.16p	GBX
13/06/2019	10/07/2019	Interim	2.27p	GBX
31/01/2019	27/02/2019	Special	4.33p	GBX
31/01/2019	27/02/2019	Final	4.23p	GBX
14/06/2018	10/07/2018	Interim	2.03p	GBX
01/02/2018	27/02/2018	Special	3.33p	GBX
01/02/2018	27/02/2018	Final	3.95p	GBX
15/06/2017	12/07/2017	Interim	1.80p	GBX
23/02/2017	24/03/2017	Final	0.19p	GBX

Year	Interim	Final	Special	Currency	Total	Change
2024	3.980	8.080	2.730	GBX	14.790	-0.130
2023	3.270	8.540	3.000	GBX	14.810	28.440
2022	3.000	8.530		GBX	11.530	156.220
2020			4.500	GBX	4.500	-61.730
2019	2.270	5.160	4.330	GBX	11.760	22.620
2018	2.030	4.230	3.330	GBX	9.590	66.780
2017	1.800	3.950		GBX	5.750	2,926.310
2016		0.190		GBX	0.190

Number of Shares:

Payment	Paid	Amount
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