Upcoming Dividend • Jun 27
Upcoming dividend of UK£0.13 per share Eligible shareholders must have bought the stock before 02 July 2026. Payment date: 23 July 2026. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of British dividend payers (5.6%). Higher than average of industry peers (2.4%). Announcement • Jun 25
Fuller, Smith & Turner P.L.C., Annual General Meeting, Jul 21, 2026 Fuller, Smith & Turner P.L.C., Annual General Meeting, Jul 21, 2026. Location: the george iv, 185 chiswick high road, w4 2dr, london United Kingdom Declared Dividend • Jun 12
Final dividend increased to UK£0.13 Dividend of UK£0.13 is 8.1% higher than last year. Ex-date: 2nd July 2026 Payment date: 23rd July 2026 Dividend yield will be 2.9%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (200% earnings payout ratio). However, it is well covered by cash flows (27% cash payout ratio). The dividend has increased by an average of 2.0% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 122% to bring the payout ratio under control. EPS is expected to grow by 172% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Jun 12
Fuller, Smith & Turner P.L.C. Proposes Final Dividend "A" and "C" Ordinary Share, Payable on 23 July 2026 Fuller, Smith & Turner P.L.C. proposed a final dividend of 13.35p (FY2025: 12.35p) per 40p "A" and "C" Ordinary Share and 1.335p (FY2025: 1.235p) per 4p "B" Ordinary Share, representing an increase of 8%. This will be paid on 23 July 2026 to shareholders on the share register as at 3 July 2026. The total dividend of 21.20p (FY2025: 19.76p) per 40p "A" and "C" Ordinary Share and 2.120p (FY2025: 1.976p) per 4p "B" Ordinary Share represents a 7% year on year increase. Announcement • Jun 11
Fuller, Smith & Turner P.L.C. to Report First Half, 2027 Results on Nov 11, 2026 Fuller, Smith & Turner P.L.C. announced that they will report first half, 2027 results on Nov 11, 2026 Reported Earnings • Jun 10
Full year 2026 earnings released: EPS: UK£0.039 (vs UK£0.47 in FY 2025) Full year 2026 results: EPS: UK£0.039 (down from UK£0.47 in FY 2025). Revenue: UK£397.8m (up 5.7% from FY 2025). Net income: UK£21.2m (down 22% from FY 2025). Profit margin: 5.3% (down from 7.2% in FY 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Hospitality industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 11% per year. Announcement • Jun 10
Fuller, Smith & Turner P.L.C. to Report Fiscal Year 2027 Results on Jun 09, 2027 Fuller, Smith & Turner P.L.C. announced that they will report fiscal year 2027 results on Jun 09, 2027 Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Non-Executive Director Jane Bednall was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 12
Fuller, Smith & Turner P.L.C. Announces Interim Dividend on A, B and C Ordinary Shares, Payable on 2 January 2026 Fuller, Smith & Turner P.L.C. announced an interim dividend of 7.85 pence (H1 2025: 7.41 pence) per 40 pence 'A' and 'C' ordinary share and 0.785 pence (H1 2025: 0.741 pence) per 4 pence 'B' ordinary share. This will be paid on 2 January 2026 to shareholders on the share register as at 12 December 2025. Announcement • Apr 01
Fuller, Smith & Turner P.L.C. Announces Board Changes Fuller, Smith & Turner P.L.C., announced the following changes to the Board. Helen Jones, having served six years as an independent non-executive director and Chair of the Remuneration Committee, will retire from the Board with effect from 31 March 2025. Jane Bednall will join the Board as an independent non-executive director with effect from 1 April 2025. Jane will serve on the Audit & Risk Committee, Nominations Committee and Remuneration Committee, and will take on the role of Employee Engagement Director. Jane Bednall is an experienced non-executive director following a successful executive career in customer-led companies, including British Airways plc and Intercontinental Hotels Group plc, where she held senior leadership roles in marketing, brand, customer, digital and commercial. She is currently a Non-Executive Director overseeing AustralianSuper’s interests on the Board of the Kings Cross Central General Partnership, and was previously a Non-Executive Director at Enterprise Inns plc and DFS Furniture plc. Robin Rowland will be appointed as Chair of the Remuneration Committee with effect from 1 April 2025 to replace Helen Jones. Jane Bednall was a non-executive director of DFS Furniture plc from 1 January 2020 to 23 June 2023. Announcement • Nov 14
Fuller, Smith & Turner P.L.C. Announces Interim Dividend, Payable on 2 January 2025 Fuller, Smith & Turner P.L.C. announced an interim dividend of 7.41 pence (H1 2024: 6.63 pence) per 40 pence 'A' and 'C' ordinary share and 0.741 pence (H1 2024: 0.663 pence) per 4 pence 'B' ordinary share. This will be paid on 2 January 2025 to shareholders on the share register as at 13 December 2024. Announcement • Aug 07
Fuller, Smith & Turner P.L.C. (LSE:FSTA) acquired Lovely Pubs Ltd for £22.5 million. Fuller, Smith & Turner P.L.C. (LSE:FSTA) acquired Lovely Pubs Ltd for £22.5 million on August 6, 2024. The acquisition will be funded from existing banking facilities. Lovely Pubs Ltd will continue to operate as they are and its founders will continue to work with Fuller’s and all 260 team members will be retained with the acquisition. For the period ending December 31, 2023, Lovely Pubs Ltd reported EBITDA of £3.1 million. CBRE acted as advisors on the deal.
Fuller, Smith & Turner P.L.C. (LSE:FSTA) completed the acqusition of Lovely Pubs Ltd on August 6, 2024. Announcement • May 30
Admiral Taverns Limited agreed terms to acquire Portfolio of 37 pubs of Tenanted Inns Division of Fuller, Smith & Turner P.L.C. for £18.3 million. Admiral Taverns Limited agreed terms to acquire Portfolio of 37 pubs of Tenanted Inns Division of Fuller, Smith & Turner P.L.C. for £18.3 million on May 29, 2024. The proceeds from the sale will further strengthen the Fuller, Smith’s balance sheet, enabling additional investment in its pubs, as well as supporting future acquisition opportunities. Following completion, Fuller’s will have 154 pubs within its Tenanted Inns Division. As of March 30, 2024, the portfolio of 37 pubs generated £1.3 million of profit before tax. The transaction is expected to close on June 25, 2024. Sapient Corporate Finance acted as financial advisor to Fuller, Smith & Turner. Announcement • Nov 17
Fuller, Smith & Turner P.L.C. Declares Interim Dividend, Payable on 2 January 2024 Fuller, Smith & Turner P.L.C. announce an interim dividend of 6.63 pence (H1 2023: 4.68 pence) per 40p 'A' and 'C' ordinary share and 0.663 pence (H1 2023: 0.468 pence) per 4p 'B' ordinary share. This will be paid on 2 January 2024 to shareholders on the share register as at 15 December 2023. Announcement • Aug 24
Fuller, Smith & Turner P.L.C. to Report First Half, 2024 Results on Nov 15, 2023 Fuller, Smith & Turner P.L.C. announced that they will report first half, 2024 results on Nov 15, 2023 Announcement • Jul 04
Fuller, Smith & Turner P.L.C. Appoints Dawn Browne to the Board Fuller, Smith & Turner P.L.C. announced that, as previously disclosed on 15 June 2023, Dawn Browne, People & Talent Director, has been appointed to the board, effective 3 July 2023. Announcement • Jun 28
Fuller, Smith & Turner P.L.C., Annual General Meeting, Jul 20, 2023 Fuller, Smith & Turner P.L.C., Annual General Meeting, Jul 20, 2023, at 10:00 Coordinated Universal Time. Location: The George IV, 185 Chiswick High Road W4 2DR London United Kingdom Agenda: To consider that the financial statements of the Company for the 53 weeks ended 1 April 2023 together with the reports of the Directors and of the Auditors thereon be received; to consider that the final dividend in respect of the 53 weeks ended 1 April 2023 of 10.0p per `A' and `C' ordinary share of 40 pence each and 1.0p per `B' ordinary share of 4 pence each be declared, such dividend to be payable on 27 July 2023 to holders of ordinary shares registered at the close of business on 7 July 2023; to consider that the Directors' Remuneration Report set out in the Annual Report and Accounts for 2023 be approved; to consider that Dawn Browne, who was appointed by the Board of Directors since the last AGM, be elected as a Director; to consider that Helen Jones, who was re-appointed by the Board of Directors since the last AGM, be re-elected as a Director; to consider that Robin Rowland, who is retiring by rotation, be re-elected as a Director; and to consider other matters. Announcement • Jun 15
Fuller, Smith & Turner P.L.C. Announces Final Dividend on 40P A, B and C Ordinary Shares, Payable on July 27, 2023 The Board of Fuller, Smith & Turner P.L.C. announced a final dividend of 10.0p (FY2022: 7.41p) per 40p 'A' and 'C' ordinary share and 1.0p (FY2022: 0.741p) per 4p 'B' ordinary share, representing a year-on-year increase of 35%. This will be paid on 27 July 2023 to shareholders on the share register as at 23 June 2023. The total dividend of 14.68p (FY2022: 11.31p) per 40p 'A' and 'C' ordinary share and 1.468p (FY2022: 1.131p) per 4p 'B' ordinary share represents a 30% year-on-year increase and continues return to a progressive dividend policy. Announcement • Jan 24
Fuller, Smith & Turner P.L.C. to Report Fiscal Year 2023 Results on Jun 15, 2023 Fuller, Smith & Turner P.L.C. announced that they will report fiscal year 2023 results on Jun 15, 2023 Buying Opportunity • Feb 22
Now 22% undervalued Over the last 90 days, the stock is up 2.6%. The fair value is estimated to be UK£9.01, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 36% per annum over the last 3 years. The company became loss making over the last 3 years. Buying Opportunity • Feb 02
Now 21% undervalued Over the last 90 days, the stock is up 5.1%. The fair value is estimated to be UK£8.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 36% per annum over the last 3 years. The company became loss making over the last 3 years. Upcoming Dividend • Dec 09
Upcoming dividend of UK£0.039 per share Eligible shareholders must have bought the stock before 16 December 2021. Payment date: 04 January 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.1%. Lower than top quartile of British dividend payers (4.1%). In line with average of industry peers (1.0%). Reported Earnings • Nov 21
First half 2022 earnings released: EPS UK£0.058 (vs UK£0.34 loss in 1H 2021) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2022 results: Revenue: UK£116.3m (up 156% from 1H 2021). Net income: UK£3.50m (up UK£22.1m from 1H 2021). Profit margin: 3.0% (up from net loss in 1H 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance. Board Change • Jul 28
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Non-Executive Director Robin Rowland was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Jul 10
Full year 2021 earnings released: UK£0.87 loss per share (vs UK£0.018 loss in FY 2020) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2021 results: Revenue: UK£73.2m (down 78% from FY 2020). Net loss: UK£48.2m (loss widened UK£47.2m from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 107 percentage points per year, which is a significant difference in performance. Reported Earnings • Dec 01
First half 2021 earnings released: UK£0.35 loss per share The company reported a poor first half result with weaker earnings, revenues and control over expenses. First half 2021 results: Revenue: UK£45.4m (down 73% from 1H 2020). Net loss: UK£19.1m (down 262% from profit in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 85% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. 
