Me Group International

Website: Me Group International
Index: FTSE 250
EPIC: MEGP
Supersector: Technology
Sector: Technology Hardware and Equipment
Subsector: Electronic Office Equipment
Market Cap: £549.56M
Payout Frequency: Semi-Annual

Next Me Group International Dividend

Me Group International next goes ex-dividend on 07/05/2026. This will be the Final dividend for 2026.

The dividend per share amount is 4.7900p (GBP) and the payment date is 29/05/2026.

Headline dividend details

Final dividend: 4.79p per share (FY25), subject to AGM approval on 24/04/2026
Ex-dividend date: 07/05/2026
Record date: 08/05/2026
Payment date: 29/05/2026
FY25 interim dividend: 3.85p, paid 28 Nov 2025 (ex-div 6 Nov 2025; record 7 Nov 2025)
Total FY25 DPS: 8.64p (+9.5% YoY), equating to c.£32.6m cash returned
Payout policy: >55% of profit after tax; FY25 payout = 58.0% of EPS
EPS (diluted): 14.91p; dividend earnings cover c.1.7x

Dividend sustainability and coverage

Earnings cover: Solid at ~1.7x, consistent with the stated >55% payout policy.
Cash support: Net cash from operating activities of £90.8m comfortably covers the FY25 dividend cash out (~£32.6m). Operating cash generation was strong (£115.5m before tax/interest).
Balance sheet: Positive net cash £26.5m at year-end provides additional headroom.
Capex and FCF: Elevated growth capex (£65.6m in FY25) tightens free cash flow after investment; guidance for FY26 capex of £57–59m should ease pressure modestly.

Dividend growth trajectory and outlook

Growth: Total DPS up 9.5% versus EPS growth of 4.5%, indicating confidence and adherence to the >55% payout framework.
Operational backdrop: Laundry continues to drive growth (EBITDA +18.1%), offsetting photobooth headwinds; Board notes YTD FY26 trading is in line with expectations.
Implication: With strong, recurring cash generation and slightly lower planned capex, mid-single-digit dividend growth appears supportable, assuming stable trading and execution on German photobooth upgrades.

Capital allocation and structural considerations

Buyback: Launch of an £18m share buyback alongside dividends signals confidence and may enhance per-share dividend affordability over time.
Investment: Continued high-return rollout in laundry; FY26 capex guided down vs FY25 yet remains growth-focused.
M&A/strategy: Company will pursue acquisitions closely related to core operations; a small photobooth acquisition in Belgium completed in FY25. This could compete for cash with dividends if larger deals arise, though management stresses discipline.
Listing status: Company expects restoration of listing/trading following Annual Report publication; not a direct change in dividend policy, but a consideration for timing/liquidity.
Policy reaffirmed: Dividend policy maintained at >55% of PAT, underpinning a payout that tracks earnings.

Risks and flags relevant to dividend stability

Regulatory risk (Germany): Photo ID regulation change hurt H2 FY25 and is expected to continue into FY26; mitigation via next-gen photobooths/biometric kiosks from H2 FY26. Execution/timing is a watchpoint.
FX exposure: Majority of revenue/profit generated outside the UK; yen and euro movements can affect reported earnings and cash flow translation.
Tax rate: Effective tax rate rose to 27.7% due to French reassessments; a persistently higher ETR would modestly pressure post-tax payout capacity.
Capex intensity: Growth-led capex remains high; while returns are attractive, free cash flow after investment can be tight in heavy rollout years, especially alongside dividends and buybacks.
Prior-period cash-in-transit restatement and prior suspension: No impact on earnings, but a reminder to monitor controls and disclosure. Restoration of trading expected.

Dividends Used in Calculation:

Ex-Dividend Date	Payment Date	Type	Amount	Currency
24/04/2025	23/05/2025	Final	4.45p	GBX
06/11/2025	28/11/2025	Interim	3.85p	GBX

Total (Annual Dividends Per Share): 8.30p

Dividend Yield = Annual Dividends Per Share (8.30p) ÷ Share Price (146p) = 5.68%

Ex Dividend Date	Payment Date	Type	Amount	Currency
07/05/2026	29/05/2026	Final	4.7900p	GBX
06/11/2025	28/11/2025	Interim	3.85p	GBX
24/04/2025	23/05/2025	Final	4.45p	GBX
07/11/2024	29/11/2024	Interim	3.45p	GBX
25/04/2024	23/05/2024	Final	4.42p	GBX
02/11/2023	23/11/2023	Interim	2.97p	GBX
27/04/2023	19/05/2023	Special	0.60p	GBX
20/04/2023	12/05/2023	Final	3.00p	GBX
13/10/2022	03/11/2022	Interim	2.60p	GBX
13/10/2022	03/11/2022	Q2	2.60
11/08/2022	01/09/2022	Special	6.50p	GBX
14/04/2022	13/05/2022	Final	2.89p	GBX

Year	Interim	Final	Special	Currency	Total	Change
2024	3.450	4.420		GBX	7.870	19.780
2023	2.970	3.000	0.600	GBX	6.570	-54.960
2022	2.600	2.890	6.500		14.590

Number of Shares:

Payment	Paid	Amount
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