GSK makes a strong start to 2024 with improving outlook for the year
Broad-based performance drives sales, profits and earnings growth:
Total Q1 2024 sales £7.4 billion +10% and +13% ex COVID
Vaccines sales +16%, +22% ex COVID. Shingrix £0.9 billion +18%, Arexvy £0.2 billion
Specialty Medicines sales +17%, +19% ex COVID with HIV +14%
General Medicines sales +1%. Trelegy £0.6 billion +33%
Total operating profit and Total EPS for Q1 2024 reflected higher charges for CCL(2) remeasurement, partly offset by strong Core(1) growth
Core operating profit +27% (with further positive impact of +8% ex COVID) and Core EPS +28% (with further positive impact of +9% ex COVID). This reflected strong sales and SG&A leverage, partly offset by increased investment in R&D and lower royalty income
Cash generated from operations exceeded £1 billion with free cash flow of £0.3 billion
(Financial Performance - Q1 2024 results unless otherwise stated, growth % and commentary at CER, ex COVID is excluding COVID-19 solutions as defined on page 47).
And later;
Quarterly dividends
The Board has declared a first interim dividend for Q1 2024 of 15p per share (Q1 2023: 14p per share).
Dividends remain an essential component of total shareholder return and GSK recognises the importance of dividends to shareholders. On 23 June 2021, at the GSK Investor Update, GSK set out that from 2022 a progressive dividend policy will be implemented guided by a 40 to 60 percent pay-out ratio through the investment cycle. Consistent with this, GSK has declared a dividend of 15p for Q1 2024 and expects to declare a dividend of 60p per share for full year 2024. In setting its dividend policy, GSK considers the capital allocation priorities of the Group and its investment strategy for growth alongside the sustainability of the dividend.
Payment of dividends
The equivalent interim dividend receivable by ADR holders will be calculated based on the exchange rate on 9 July 2024. An annual fee of $0.03 per ADS (or $0.0075 per ADS per quarter) is charged by the Depositary. The ex-dividend date will be 16 May 2024, with a record date of 17 May 2024 and a payment date of 11 July 2024.
https://www.investegate.co.uk/announcem ... ts/8165812
Also posted on Company News here; viewtopic.php?p=662229#p662229
I hold these in my HYP, and know others here do too, so this may be of interest here.
Ian.