Marks & Spencer is expected to report pre-tax profits of £648m at its full year results on Wednesday (May 20), its first profit in four years.
The chain will announce a 4% rise in profits according to City analysts and will be a welcome relief for the high street retailer and its embattled chief executive Marc Bolland.
The retailer said in March that it would provide further details on its dividend strategy at full-year results. Fraser Ramzan, analyst at financial holding company Nomura, told The Telegraph M&S could unveil a £250m special dividend.
M&S raised its payout by 0.2p to 6.4p a share at its half-year results. The company’s last buyback was in 2007 when Bolland’s predecessor Sir Stuart Rose returned £1bn to shareholders.