Weir Group
Website:
Weir Group
Index:
FTSE 100
EPIC: WEIR
Supersector:
Industrial Goods and Services
Sector:
Industrial Engineering
Subsector:
Industrial Machinery
Market Cap:
£6.89B
Payout Frequency: Semi-Annual
Weir Group Dividend Analysis and Summary
Key Dividend Details
- Final dividend: 22.1p per share (flat year-on-year)
- Total FY25 dividend: 41.7p per share (up 4% vs 40.0p)
- Payout policy: c.33% of adjusted EPS maintained
- Adjusted EPS: 123.8p; dividend cover c.3.0x
- Ex-dividend date: 30/04/2026
- Record date: 01/05/2026
- Payment date: 29/05/2026
Sustainability and Growth Outlook
- Coverage and cash: Cover of 3.0x on adjusted EPS and strong free operating cash conversion of 92% (FOCF £475m; FCF £267m) amply cover FY dividends of £107.6m.
- Earnings quality: Aftermarket revenue bias (~80% of Group) and operating margin at 20.2% support resilient cash generation.
- 2026 guidance: Mid-single-digit organic revenue growth, ~50bps margin expansion, and 90–100% cash conversion underpin near-term dividend sustainability.
- Cost and mix tailwinds: Final year of Performance Excellence adds remaining savings to reach £90m; growing high-margin, recurring software revenue (Micromine ARR +24%, 94% retention) supports cash visibility.
- Balance sheet: Net debt to EBITDA at 1.9x after M&A, with a stated path back toward 0.5–1.5x by end-2026; long-dated refinancing completed at attractive rates.
- Trajectory: Total dividend up 4% YoY driven by a higher interim (19.6p); final held flat. Policy consistency and outlook suggest scope for continued, incremental growth aligned to earnings.
Structural and Policy Factors to Monitor
- M&A integration and mix shift: Acquisitions of Micromine, Townley and Fast2Mine (2025) broaden software and North American exposure; post year-end completion of ESEL (Chile) strengthens go-direct strategy and regional capacity.
- Capital allocation: Clear framework reiterated—organic investment, bolt-on M&A, and dividends at ~33% of adjusted EPS; no change to dividend policy signalled.
- Financing: 2025 refinancing (USD and AUD bond notes; term loan extended to 2028) smooths maturities but raises interest costs near term.
- Legacy liabilities: US subsidiary with asbestos claims deconsolidated via Chapter 11; provision removed from Group, though a residual provision has been recognised pending court outcomes. No direct change to dividend policy, but an overhang to watch.
Risks / Flags for Dividend Stability
- Leverage and interest: Higher net debt (ND/EBITDA 1.9x) and increased net finance costs (£70m vs £44m) could constrain headroom if trading softens.
- Commodity cycle and regional exposure: Strength in copper/gold supportive; weakness in nickel/lithium and broader mining capex pauses would pressure aftermarket volumes.
- Working capital: Inventory and receivables elevated (working capital 22.4% of sales vs 20.7%); improvement is assumed in guidance—slippage would weigh on cash conversion.
- Execution/integration: Delivery of Performance Excellence savings and integration of multiple acquisitions (including software platforms) is critical to sustaining >20% margins and cash.
- Policy/operational: Tariffs, FX translation headwinds, and safety/operational disruptions are ongoing considerations.
Read more
Weir Group Annual Dividend Yield - 1.6%
Dividends Used in Calculation:
| Ex-Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 17/04/2025 |
30/05/2025 |
Final |
22.10p |
GBX |
| 02/10/2025 |
04/11/2025 |
Interim |
19.60p |
GBX |
Total (Annual Dividends Per Share):
41.70p
Dividend Yield =
Annual Dividends Per Share (41.70p)
÷ Share Price (2600p)
= 1.6%
Weir Group Dividend History
| Ex Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 30/04/2026 |
29/05/2026 |
Final |
22.1000p |
GBX |
| 02/10/2025 |
04/11/2025 |
Interim |
19.60p |
GBX |
| 17/04/2025 |
30/05/2025 |
Final |
22.10p |
GBX |
| 03/10/2024 |
01/11/2024 |
Interim |
17.90p |
GBX |
| 18/04/2024 |
31/05/2024 |
Final |
20.80p |
GBX |
| 05/10/2023 |
03/11/2023 |
Interim |
17.80p |
GBX |
| 20/04/2023 |
05/06/2023 |
Final |
19.30p |
GBX |
| 06/10/2022 |
04/11/2022 |
Interim |
13.50p |
GBX |
| 21/04/2022 |
06/06/2022 |
Final |
12.30p |
GBX |
| 07/10/2021 |
05/11/2021 |
Interim |
11.50p |
GBX |
| 23/04/2020 |
05/06/2020 |
Final |
30.45p |
GBX |
| 10/10/2019 |
05/11/2019 |
Interim |
16.50p |
GBX |
| 25/04/2019 |
06/06/2019 |
Final |
30.45p |
GBX |
| 11/10/2018 |
02/11/2018 |
Interim |
15.75p |
GBX |
| 26/04/2018 |
04/06/2018 |
Final |
29.00p |
GBX |
| 21/09/2017 |
03/11/2017 |
Interim |
15.00p |
GBX |
| 27/04/2017 |
05/06/2017 |
Final |
29.00p |
GBX |
| 22/09/2016 |
04/11/2016 |
Interim |
15.00p |
GBX |
| 28/04/2016 |
06/06/2016 |
Final |
29.00p |
GBX |
| 08/10/2015 |
06/11/2015 |
Interim |
15.00p |
GBX |
| 30/04/2015 |
29/05/2015 |
Final |
29.00p |
GBX |
| 09/10/2014 |
07/11/2014 |
Interim |
15.00p |
GBX |
| 30/04/2014 |
30/05/2014 |
Final |
33.20p |
GBX |
| 02/10/2013 |
01/11/2013 |
Interim |
8.80p |
GBX |
| 01/05/2013 |
31/05/2013 |
Final |
30.0p |
GBX |
| 03/10/2012 |
02/11/2012 |
Interim |
8.0p |
GBX |
| 02/05/2012 |
01/06/2012 |
Final |
25.8p |
GBX |
| 05/10/2011 |
04/11/2011 |
Interim |
7.2p |
GBX |
| 04/05/2011 |
02/06/2011 |
Final |
21.0p |
GBX |
| 06/10/2010 |
05/11/2010 |
Interim |
6.0p |
GBX |
| 05/05/2010 |
03/06/2010 |
Final |
16.2p |
GBX |
| 07/10/2009 |
06/11/2009 |
Interim |
4.8p |
GBX |
| 29/04/2009 |
01/06/2009 |
Final |
13.85p |
GBX |
| 08/10/2008 |
07/11/2008 |
Interim |
4.65p |
GBX |
| 30/04/2008 |
02/06/2008 |
Final |
12.35p |
GBX |
| 10/10/2007 |
09/11/2007 |
Interim |
4.15p |
GBX |
| 02/05/2007 |
01/06/2007 |
Final |
10.75p |
GBX |
| 11/10/2006 |
10/11/2006 |
Interim |
3.75p |
GBX |
| 03/05/2006 |
01/06/2006 |
Final |
9.65p |
GBX |
| 12/10/2005 |
11/11/2005 |
Interim |
3.55p |
GBX |
| 27/04/2005 |
01/06/2005 |
Final |
9.35p |
GBX |
| 13/10/2004 |
12/11/2004 |
Interim |
3.45p |
GBX |
| 28/04/2004 |
01/06/2004 |
Final |
9.05p |
GBX |
| 01/10/2003 |
07/11/2003 |
Interim |
3.35p |
GBX |
| 30/04/2003 |
02/06/2003 |
Final |
8.75p |
GBX |
| 02/10/2002 |
08/11/2002 |
Interim |
3.25p |
GBX |
| 01/05/2002 |
07/06/2002 |
Final |
8.45p |
GBX |
| 12/09/2001 |
09/11/2001 |
Interim |
3.15p |
GBX |
| 04/04/2001 |
08/06/2001 |
Final |
8.00p |
GBX |
| 11/09/2000 |
10/11/2000 |
Interim |
3.00p |
GBX |
| Year |
Interim |
Final |
Currency |
Total |
Change |
| 2024 |
17.900 |
20.800 |
GBX |
38.700 |
4.310 |
| 2023 |
17.800 |
19.300 |
GBX |
37.100 |
43.790 |
| 2022 |
13.500 |
12.300 |
GBX |
25.800 |
124.340 |
| 2021 |
11.500 |
|
GBX |
11.500 |
-62.230 |
| 2020 |
|
30.450 |
GBX |
30.450 |
-35.140 |
| 2019 |
16.500 |
30.450 |
GBX |
46.950 |
4.910 |
| 2018 |
15.750 |
29.000 |
GBX |
44.750 |
1.700 |
| 2017 |
15.000 |
29.000 |
GBX |
44.000 |
0.000 |
| 2016 |
15.000 |
29.000 |
GBX |
44.000 |
0.000 |
| 2015 |
15.000 |
29.000 |
GBX |
44.000 |
-8.710 |
| 2014 |
15.000 |
33.200 |
GBX |
48.200 |
24.220 |
| 2013 |
8.800 |
30.000 |
GBX |
38.800 |
14.790 |
| 2012 |
8.000 |
25.800 |
GBX |
33.800 |
19.850 |
| 2011 |
7.200 |
21.000 |
GBX |
28.200 |
27.020 |
| 2010 |
6.000 |
16.200 |
GBX |
22.200 |
19.030 |
| 2009 |
4.800 |
13.850 |
GBX |
18.650 |
9.700 |
| 2008 |
4.650 |
12.350 |
GBX |
17.000 |
14.090 |
| 2007 |
4.150 |
10.750 |
GBX |
14.900 |
11.190 |
| 2006 |
3.750 |
9.650 |
GBX |
13.400 |
3.870 |
| 2005 |
3.550 |
9.350 |
GBX |
12.900 |
3.200 |
| 2004 |
3.450 |
9.050 |
GBX |
12.500 |
3.300 |
| 2003 |
3.350 |
8.750 |
GBX |
12.100 |
3.410 |
| 2002 |
3.250 |
8.450 |
GBX |
11.700 |
4.930 |
| 2001 |
3.150 |
8.000 |
GBX |
11.150 |
271.660 |
| 2000 |
3.000 |
|
GBX |
3.000 |
|
Weir Group Dividend Calculator
Weir Group Dividend Growth
| Dividend Growth (1Y) |
4.25%
|
| Dividend CAGR (5Y) |
29.39%
|
| Years of Growth |
4
|
| Payout Ratio |
43.58%
|
| Buyback Yield |
-0.08%
|
| Shareholder Yield |
1.4%
|
| P/E Ratio (TTM) | 29.06 |
|---|
| Forward P/E | 20.62 |
|---|
| P/FCF | 21.91 |
|---|
| Earnings Yield | 3.46% |
|---|
| FCF Yield | 4.56% |
|---|
| ROE | 13.14% |
|---|
| ROCE | 11.28% |
|---|
| Profit Margin | 9.63% |
|---|
| Operating Margin | 16.19% |
|---|
| Gross Margin | 40.01% |
|---|