Morrisons to issue special dividend after logging 17% profit rise

Wm Morrison will pay a special dividend to its shareholders after posting annual results that came in slightly ahead of City expectations. Britain's fourth largest supermarket group, which like its rivals is doing well out of food price inflation, said on Tuesday it would pay a special dividend of 4p per share, taking the total payout to 10.09p - almost double what it paid last year. Morrisons' pre-tax profits rose 17 per cent to £380m during the year. In the fourth quarter of the year, its most recent trading period, Morrisons' like-for-like sales excluding petrol also rose 2.8 per cent. Data from research group Kantar Worldpanel showed that in the 12 weeks to February 25, Morrisons' market share was 10.6 per cent, matching the same period the year before.

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