Renew Holdings
Website:
Renew Holdings
Index:
AIM
EPIC: RNWH
Supersector:
Construction and Materials
Sector:
Construction and Materials
Subsector:
Heavy Construction
Market Cap:
£687.14M
Payout Frequency: Semi-Annual
Renew Holdings Dividend Analysis and Summary
Key Dividend Details
- Type: Interim dividend
- Amount: 7.00p per share (up ~5% vs 6.67p in HY25)
- Ex-dividend date: 04/06/2026
- Record date: 05/06/2026
- Payment date: 08/07/2026
- Coverage (HY26): Adjusted EPS 30.9p ? interim DPS covered ~4.4x; statutory continuing EPS 23.91p ? cover ~3.4x
- Context: FY25 total dividend 20.0p; FY25 adjusted EPS 67.07p ? payout c.30%
- Cash and visibility: Pre-IFRS 16 net cash £10.6m; H1 net cash from continuing operations £31.1m; record order book £945m
Sustainability and Growth Outlook
- Underlying support looks solid: revenue up 3.5% to £589.0m, adjusted operating profit up 4.4% to £33.4m with margin stable at 5.7%; PBT up 8.6%.
- Cash generation comfortably covers dividends: H1 continuing operating cash flow of £31.1m vs dividends paid in period of £10.6m.
- Balance sheet strength: moved to pre-IFRS 16 net cash of £10.6m, providing flexibility alongside a highly visible, long-cycle order book of £945m.
- Dividend trajectory: Interim up 5% and consistent with a progressive policy. With historic payout around c.30% of adjusted earnings and H1 cover >3x on a statutory basis (>4x adjusted), the current dividend level appears well supported.
Capital Allocation and Structural Changes Affecting Dividends
- M&A remains active and strategically focused:
- Emerald Power acquired Oct 2025 (overhead line maintenance) – integration progressing well.
- Post period: Edwards Diving Services (EDS) acquired 30 Apr 2026 (specialist water services; immediately earnings enhancing) and PWR-X acquired 11/05/2026 (HV cable jointing).
Funded from existing facilities; deal sizes are modest relative to cash generation.
- Portfolio focus: Prior disposal of Walter Lilly completed in FY25, exiting Specialist Building and concentrating on regulated Engineering Services – supportive of more stable cash flows and dividend resilience.
Risks and Watchpoints for Dividend Stability
- Operational headwinds in Onshore Wind: Full Circle’s French subsidiary underperformance and restructuring could weigh on near-term earnings, though medium-term sector outlook remains positive.
- Nuclear exposure: Ongoing industrial action at Sellafield is pressuring performance, albeit within long-term, funded frameworks.
- Working capital volatility: H1 saw a large movement in receivables (+£29.9m) and payables (+£31.0m); typical for the sector but can affect cash timing.
- M&A execution and costs: Continued acquisitions bring integration risk and recurring exceptional/acquisition-related charges, though balance sheet capacity appears adequate.
- Regulatory cycles concentration: Heavy exposure to regulated spend in rail, water, and power is generally supportive but ties outcomes to regulatory timing and policy decisions.
Read more
Renew Holdings Annual Dividend Yield - 2.34%
Dividends Used in Calculation:
| Ex-Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 12/02/2026 |
20/03/2026 |
Final |
13.3300p |
GBX |
| 04/06/2026 |
08/07/2026 |
Interim |
7.0000p |
GBX |
Total (Annual Dividends Per Share):
20.33p
Dividend Yield =
Annual Dividends Per Share (20.33p)
÷ Share Price (867p)
= 2.34%
Renew Holdings Dividend History
| Ex Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 04/06/2026 |
08/07/2026 |
Interim |
7.0000p |
GBX |
| 12/02/2026 |
20/03/2026 |
Final |
13.3300p |
GBX |
| 05/06/2025 |
09/07/2025 |
Interim |
6.67p |
GBX |
| 06/02/2025 |
14/03/2025 |
Final |
12.67p |
GBX |
| 06/06/2024 |
10/07/2024 |
Interim |
6.33p |
GBX |
| 08/02/2024 |
08/03/2024 |
Final |
12.00p |
GBX |
| 08/06/2023 |
12/07/2023 |
Interim |
6.00p |
GBX |
| 09/02/2023 |
03/03/2023 |
Final |
11.33p |
GBX |
| 09/06/2022 |
13/07/2022 |
Interim |
5.67p |
GBX |
| 27/01/2022 |
04/03/2022 |
Final |
11.17p |
GBX |
| 17/06/2021 |
15/07/2021 |
Interim |
4.83p |
GBX |
| 28/01/2021 |
05/03/2021 |
Final |
8.33p |
GBX |
| 30/01/2020 |
06/03/2020 |
Final |
7.67p |
GBX |
| 06/06/2019 |
12/07/2019 |
Interim |
3.83p |
GBX |
| 31/01/2019 |
08/03/2019 |
Final |
6.67p |
GBX |
| 31/05/2018 |
06/07/2018 |
Interim |
3.33p |
GBX |
| 01/02/2018 |
13/03/2018 |
Final |
6.00p |
GBX |
| 01/06/2017 |
03/07/2017 |
Interim |
3.00p |
GBX |
| 26/01/2017 |
28/02/2017 |
Final |
5.35p |
GBX |
| 02/06/2016 |
04/07/2016 |
Interim |
2.65p |
GBX |
| 28/01/2016 |
01/03/2016 |
Final |
4.75p |
GBX |
| 04/06/2015 |
06/07/2015 |
Interim |
2.25p |
GBX |
| 29/01/2015 |
02/03/2015 |
Final |
3.50p |
GBX |
| 04/06/2014 |
07/07/2014 |
Interim |
1.50p |
GBX |
| 29/01/2014 |
03/03/2014 |
Final |
2.50p |
GBX |
| 05/06/2013 |
08/07/2013 |
Interim |
1.10p |
GBX |
| Year |
Interim |
Final |
Currency |
Total |
Change |
| 2024 |
6.330 |
12.670 |
GBX |
19.000 |
5.550 |
| 2023 |
6.000 |
12.000 |
GBX |
18.000 |
5.880 |
| 2022 |
5.670 |
11.330 |
GBX |
17.000 |
6.250 |
| 2021 |
4.830 |
11.170 |
GBX |
16.000 |
92.070 |
| 2020 |
|
8.330 |
GBX |
8.330 |
-27.560 |
| 2019 |
3.830 |
7.670 |
GBX |
11.500 |
15.000 |
| 2018 |
3.330 |
6.670 |
GBX |
10.000 |
11.110 |
| 2017 |
3.000 |
6.000 |
GBX |
9.000 |
12.500 |
| 2016 |
2.650 |
5.350 |
GBX |
8.000 |
14.280 |
| 2015 |
2.250 |
4.750 |
GBX |
7.000 |
40.000 |
| 2014 |
1.500 |
3.500 |
GBX |
5.000 |
38.880 |
| 2013 |
1.100 |
2.500 |
GBX |
3.600 |
|
Renew Holdings Dividend Calculator
Renew Holdings Dividend Growth
| Dividend Growth (1Y) |
5.12%
|
| Dividend CAGR (5Y) |
9.09%
|
| Years of Growth |
5
|
| Payout Ratio |
37.45%
|
| Buyback Yield |
0.02%
|
| Shareholder Yield |
2.32%
|
| P/E Ratio (TTM) | 15.08 |
|---|
| Forward P/E | 12.17 |
|---|
| P/FCF | 12.74 |
|---|
| Earnings Yield | 6.15% |
|---|
| FCF Yield | 7.85% |
|---|
| ROE | 19.38% |
|---|
| ROCE | 22.82% |
|---|
| Profit Margin | 3.81% |
|---|
| Operating Margin | 5.77% |
|---|
| Gross Margin | 15.23% |
|---|