SThree

Website: SThree
Index: FTSE Small Cap
EPIC: STEM
Supersector: Industrial Goods and Services
Sector: Support Services
Subsector: Business Training and Employment Agencies
Market Cap: £244.4M
Payout Frequency: Semi-Annual

Next SThree Dividend

SThree next goes ex-dividend on 14/05/2026. This will be the Final dividend for 2026.

The dividend per share amount is 9.2000p (GBP) and the payment date is 12/06/2026.

Key Dividend Details

Proposed final dividend: 9.2p per share (unchanged YoY)
Total FY25 dividend: 14.3p per share (unchanged YoY)
Ex-dividend date: 14/05/2026 (derived from record date)
Record date: 15/05/2026
Payment date: 12/06/2026
Cash cost of final dividend: c.£11.9m
Dividend cover (company APM): ~1.0x for FY25; stated through-cycle target 2.5x–3.0x
EPS vs DPS: FY25 EPS 13.7p vs FY25 DPS 14.3p (payout above earnings)
Status: Final dividend subject to AGM approval (29/04/2026)

Dividend Sustainability and Outlook

Coverage: FY25 dividend is effectively uncovered on both EPS and profit-based measures (c.1.0x), below the Board’s through-cycle cover target (2.5x–3.0x). This weak coverage reduces resilience if trading softens further.
Earnings trajectory: FY25 PBT fell 62% YoY to £25.5m; the Board guides to FY26 PBT c.£10m, which implies further pressure on earnings-based cover if the dividend is maintained.
Cash and balance sheet support: Net cash of £68.0m, undrawn £50m RCF, and strong FY25 operating cash flow (benefiting from working-capital inflow and lower capex post-TIP) provide near-term funding capacity for the dividend despite low profits.
Operating backdrop: Contractor order book (~five months’ net fees) offers some visibility; TIP-driven efficiencies and US growth are positives, but Europe remains weak and margins compressed (operating profit conversion 8.1% vs 17.9% in FY24).
Growth trajectory: Dividend is held flat rather than growing, reflecting cautious capital return amid a subdued cycle. With FY26 profit guidance lower, upward dividend progression appears unlikely near term without a demand recovery and margin rebuild.

Dividends Used in Calculation:

Ex-Dividend Date	Payment Date	Type	Amount	Currency
08/05/2025	06/06/2025	Final	9.20p	GBX
13/11/2025	12/12/2025	Interim	5.1000p	GBX
13/11/2025	12/12/2025	Final	5.10p	GBX

Total (Annual Dividends Per Share): 19.40p

Dividend Yield = Annual Dividends Per Share (19.40p) ÷ Share Price (194p) = 10%

Ex Dividend Date	Payment Date	Type	Amount	Currency
14/05/2026	12/06/2026	Final	9.2000p	GBX
13/11/2025	12/12/2025	Interim	5.1000p	GBX
13/11/2025	12/12/2025	Final	5.10p	GBX
08/05/2025	06/06/2025	Final	9.20p	GBX
07/11/2024	06/12/2024	Interim	5.10p	GBX
09/05/2024	07/06/2024	Final	11.60p	GBX
09/11/2023	08/12/2023	Interim	5.00p	GBX
11/05/2023	09/06/2023	Final	11.00p	GBX
03/11/2022	02/12/2022	Interim	5.00p	GBX
05/05/2022	10/06/2022	Final	8.00p	GBX
04/11/2021	03/12/2021	Interim	3.00p	GBX
06/05/2021	04/06/2021	Final	5.00p	GBX
31/10/2019	06/12/2019	Interim	5.10p	GBX
25/04/2019	07/06/2019	Final	9.80p	GBX
01/11/2018	07/12/2018	Interim	4.70p	GBX
26/04/2018	08/06/2018	Final	9.30p	GBX
02/11/2017	08/12/2017	Interim	4.70p	GBX
04/05/2017	09/06/2017	Final	9.30p	GBX
03/11/2016	09/12/2016	Interim	4.70p	GBX

Year	Interim	Final	Currency	Total	Change
2024	5.100	11.600	GBX	16.700	4.370
2023	5.000	11.000	GBX	16.000	23.070
2022	5.000	8.000	GBX	13.000	62.500
2021	3.000	5.000	GBX	8.000	-46.300
2019	5.100	9.800	GBX	14.900	6.420
2018	4.700	9.300	GBX	14.000	0.000
2017	4.700	9.300	GBX	14.000	197.870
2016	4.700		GBX	4.700

Number of Shares:

Payment	Paid	Amount
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