Based on the strong first half result and current market conditions we now expect 2021 full year adjusted EPS to be in the range of 85p to 90p. This guidance reflects our expected average share position in 2021 of approximately 268 million shares, resulting from the ongoing share buyback.
Dividend
The Board is recommending a 2021 interim dividend of 7.9p per share (2020: 7.5p per share). Payment will be made on 17 September 2021 to shareholders on the register at the close of business on 13 August 2021.
IMI has been by far my best performing share. IRR of 44.7% since first bought in 2009 at 265p reflects that. Trimmed back when overweight on 4 occasions and added to when underweight on 4 occasions. Last year the previous year's final (2019) was reinstated and paid with the interim, and the final was reduced in 2020 from 26.2p to 15p. With that predicted EPS the final ought to back up there. With a yield of only 1.3%, that reflects a stunning capital performance. I should be contemplating dumping it altogether on yield grounds, but it keeps on going.
TJH