UK grocer Tesco to pay first dividend since 2014-15 crisis [CNBC]
TESCO PLC S/ADR (TSCDY)
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Source: CNBC
Britain's biggest retailer Tesco said on Wednesday it would pay a dividend for the first time since the 2014-15 year when it was mired in crisis, signalling it has reached the next stage of its recovery. The firm reported a 27.3 percent rise in first-half profit and a seventh straight quarter of underlying sales growth in its home market, successfully navigating an inflationary trading environment. An interim dividend of 1 pence will be paid which reflects improved performance and board confidence, the company said. Tesco's Chief Financial Officer Alan Stewart told CNBC on Wednesday that the business was trying to protect consumers from rising costs. Inflation is really something we've worked with suppliers to mitigate ... And we're not passing on as much inflation. More than a hundred of our suppliers have seen more than doubled volumes so as we improve our business, so we see our suppliers benefiting too, he said. Like other U.K. supermarkets, Tesco has felt t
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