Cash-positive Wolseley pays special divi

published 2 October 2012

Rumours of a special dividend from Wolseley have proved to be on the money, with the plumbers' merchant paying 40p on top of the full year divi of 60p.

The once debt-laden company is now cash positive, with net cash of £45m at the end of July, compared to net debt of £523m the year before.

Reported profit before tax in the year to July 31st fell to £198m from £391m, following a £353m impairment charge relating to acquisitions made between 2003 to 2007.