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:
£386
Payout Frequency: Semi-Annual
Me Group International Dividend Analysis and Summary
Declared Dividend and Timetable
- Dividend: Interim 3.60p per share (down 6.5% year-on-year from 3.85p)
- Ex-dividend date: 05/11/2026
- Record date: 06/11/2026
- Payment date: 27/11/2026
- Total cash cost: ~£13.5m (implies c.374.6m shares in issue post buybacks/options)
- Policy: Board remains committed to paying >55% of annual profits after tax as dividends
- Context: Final dividend for FY2025 of 4.79p was paid on 29/05/2026 (£18.0m)
Coverage and Cash Flow Support
- H1 2026 diluted EPS: 6.48p; profit after tax: £24.5m
- Interim dividend cash out (£13.5m) is ~55% of H1 PAT, aligning with policy
- Net cash from operating activities (H1): £32.2m (H1 2025: £35.3m)
- Balance sheet: £7.5m net cash (ex-leases) vs £27.6m a year ago; gross cash £52.8m
- Capex (H1): £33.9m (68% into laundry and photobooth expansion), supporting future earnings but near-term FCF heavy
Sustainability and Growth Outlook
- Operating performance: Revenue broadly flat; EBITDA +7.1% to £57.0m; margin stable at 36.9%
- Guidance: FY2026 PBT expected at £69–£74m; applying a c.25% tax rate implies PAT that can sustain policy-driven payouts
- Business mix improving: Laundry (Wash.ME) vending revenue +16.3%, now ~38% of Group revenue and ~54% of EBITDA, providing higher-margin, more resilient cash flows
- Interim cut (-6.5%) looks prudent amid April softness in Photo.ME; H2 to date shows normalising trends (May vending revenue +11.1% y/y)
Capital Allocation and Structural Updates
- Share buyback (launched Mar 2026) up to £18m; executed to date: £4.5m with shares cancelled, modestly supporting per-share dividends
- Acquisition: Agreement to acquire GSL NV (Belgium) on 27/07/2026; small, cash-funded, supportive of European photo estate
- Growth partnerships: New UK agreement with ASDA (largest laundry partnership to date); renewals with SNCF (7-year) and RATP (5-year) in France (>£9m revenue)
- No demergers, share consolidations or transformative M&A disclosed
Risks and Flags Relevant to Dividend Stability
- Photobooth regulatory risk: German ID rule changes hit Photo.ME; broader risk of centralised ID capture in other markets remains a structural threat
- Geopolitical/travel demand: April slowdown tied to weaker confidence; recovery noted but renewed shocks could pressure photobooth cash flows
- FX exposure: Yen weakness reduces reported earnings/cash conversion
- Cash dynamics: Working capital build (inventory +£8.3m) and high capex commitments (£53.3m) can tighten near-term FCF if trading softens
- Accounting restatements (cash-in-transit and dividend recognition in prior interim) are minor control flags, with no cash impact
Read more
Me Group International Annual Dividend Yield - 8.21%
Dividends Used in Calculation:
| Ex-Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 07/05/2026 |
29/05/2026 |
Final |
4.7900p |
GBX |
| 05/11/2026 |
27/11/2026 |
Interim |
3.6000p |
GBX |
Total (Annual Dividends Per Share):
8.39p
Dividend Yield =
Annual Dividends Per Share (8.39p)
÷ Share Price (102.2p)
= 8.21%
Me Group International Dividend History
| Ex Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 05/11/2026 |
27/11/2026 |
Interim |
3.6000p |
GBX |
| 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 |
|
Me Group International Dividend Calculator
Me Group International Dividend Growth
| Dividend Growth (1Y) |
1.08%
|
| Dividend CAGR (5Y) |
23.76%
|
| Years of Growth |
2
|
| Payout Ratio |
56.4%
|
| Buyback Yield |
0.17%
|
| Shareholder Yield |
8.61%
|
| P/E Ratio (TTM) | 6.98 |
|---|
| Forward P/E | 7.77 |
|---|
| P/FCF | 18.32 |
|---|
| Earnings Yield | 14.34% |
|---|
| FCF Yield | 5.46% |
|---|
| ROE | 28.17% |
|---|
| ROCE | 31.7% |
|---|
| Profit Margin | 17.57% |
|---|
| Operating Margin | 24.58% |
|---|
| Gross Margin | 35.98% |
|---|