Wickes Group

Website: Wickes Group
Index: FTSE 250
EPIC: WIX
Supersector: Retail
Sector: General Retailers
Subsector: Home Improvement Retailers
Market Cap: £515.41M
Payout Frequency: Semi-Annual

Next Wickes Group Dividend

Wickes Group next goes ex-dividend on 23/04/2026. This will be the Final dividend for 2026.

The dividend per share amount is 7.3000p (GBP) and the payment date is 05/06/2026.

Declared dividend and key dates

Final dividend: 7.3p per share (unchanged vs FY2024)
Total FY2025 dividend: 10.9p per share (unchanged vs FY2024)
Ex-dividend date: 23/04/2026
Record date: 24/04/2026
Payment date: 05/06/2026
DRIP available; election deadline: 14/05/2026
Dividend policy: management targets cover of 1.5–2.5x and now plans to start increasing the dividend and cover as profits grow.

Coverage and affordability

Adjusted EPS: 17.4p (+23% YoY) implies dividend cover of ~1.6x and a payout ratio of ~63% on adjusted earnings (statutory EPS 16.8p: cover ~1.5x).
Cash generation remains robust: net cash from operations £193.9m; dividends paid £24.8m and buybacks £20.0m in 2025; year-end net cash (ex-IFRS 16) £91.7m, average cash £153.0m.
Adjusted PBT up 14.4% to £49.9m; Board “comfortable” with FY2026 consensus PBT of £57.6m (range £52.0–£59.8m).

Growth trajectory and outlook for the dividend

DPS held flat for a second year at 10.9p, but guidance explicitly signals an intention to resume dividend growth as profits expand, within the 1.5–2.5x cover range.
Capital allocation in 2026 includes a step-up in capex to £40–45m and £18–20m of expensed tech investment, plus a new £10m buyback and £5–10m of purchases for employee schemes. Near-term cash demands may temper the pace of dividend growth, but coverage and cash generation look adequate.
Operational momentum (record Retail share, improving D&I) and stronger profitability support the scope for modest DPS increases from FY2026 if trading tracks guidance.

Structural or policy factors affecting future dividends

Shareholder returns: 2025 buyback of £20m completed; new £10m buyback announced for 2026. Share count reduction supports per-share metrics alongside dividends.
Store rollout acceleration: ambition to reach 300 stores with higher multi-year capex; beneficial to long-term earnings but increases near-term investment needs.
Working capital: 2025 working capital benefit expected to unwind by £5–10m in 2026, modestly reducing cash conversion in-year.
Dividend policy: reiterated cover target of 1.5–2.5x with intention to lift both dividend and cover as profits grow.

Risks and flags relevant to dividend stability

Macro/trading volatility: management cites an “uncertain consumer and geopolitical environment”; weather-sensitive categories already impacted in early 2026.
Higher investment burden: step-up in capex and technology spend could crowd out rapid DPS growth if profits underperform.
Leases/interest: substantial IFRS 16 lease liabilities with interest costs; FY2026 net interest guided at £25–27m, a headwind to earnings growth.
Working capital unwind: expected £5–10m cash outflow reversal in 2026 reduces free cash in-year.
Margin factors: FX derivative fair value losses (non-cash) and ongoing cost inflation require continued productivity and mix benefits to sustain margins.

Dividends Used in Calculation:

Ex-Dividend Date	Payment Date	Type	Amount	Currency
24/04/2025	06/06/2025	Final	7.30p	GBX
02/10/2025	07/11/2025	Interim	3.60p	GBX

Total (Annual Dividends Per Share): 10.90p

Dividend Yield = Annual Dividends Per Share (10.90p) ÷ Share Price (221.5p) = 4.92%

Ex Dividend Date	Payment Date	Type	Amount	Currency
23/04/2026	05/06/2026	Final	7.3000p	GBX
02/10/2025	07/11/2025	Interim	3.60p	GBX
24/04/2025	06/06/2025	Final	7.30p	GBX
03/10/2024	08/11/2024	Interim	3.60p	GBX
25/04/2024	06/06/2024	Final	7.30p	GBX
28/09/2023	03/11/2023	Interim	3.60p	GBX
20/04/2023	07/06/2023	Final	7.30p	GBX
29/09/2022	04/11/2022	Interim	3.60p	GBX
21/04/2022	08/06/2022	Final	8.80p	GBX
21/04/2022	08/06/2022	Q4	8.80
23/09/2021	01/11/2021	Interim	2.10p	GBX

Year	Interim	Final	Currency	Total	Change
2024	3.600	7.300	GBX	10.900	0.000
2023	3.600	7.300	GBX	10.900	-48.580
2022	3.600	8.800		21.200	909.520
2021	2.100		GBX	2.100

Number of Shares:

Payment	Paid	Amount
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