B&M (LON: BME) owners take £30 million payout after Christmas sales

2 min read | January 08, 2021 11:14 PM AEDT | By Team Kalkine Media

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Simon and Bobby Arora, owners of B&M European Value Retail S.A. (LON: BME), have taken a £30 million payout after it reported booming sales in the run-up to Christmas.

The Arora brothers will receive the latest payout as part of a special dividend payment of total £200 million to the shareholders.

It was announced that a special dividend of 20 pence-a-share would be handed out to all the shareholders on 29 January 2021. As per the company announcement, this dividend will be in addition to the previously announced special payout of 25 pence per share and 4.3 pence ordinary payout, which are expected in the half-year results in November.

(Image source: ©Kalkine Group 2020)

Their third brother Robin owns a further 3 per cent of the business and will get £6 million. The payouts have made the Aroras one of the best-paid company leaders in Britain.

The company buoyed by sales uplift due to Christmas, has also announced to pay 30,000 of its workers an extra week’s salaries.

The company in its trading updates, has stated that group revenue was up by 22.5 per cent in the third quarter, while the UK stores revenue growth was of 26.6 per cent.

The group’s value convenience store chain, Heron Foods come up with good numbers delivering another solid LFL sales growth for the reported quarter.

On 8 January 2021, the stocks of the B&M European Value Retail S.A. (LON:BME) traded higher by 2.67% from its previous closing, hovering at around GBX 545.60 at 11:21 AM GMT+1.

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