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Fenwick awards £3.8m dividend despite falling profits

The Fenwick family, owners of the luxury department store chain Fenwick, will receive a dividend of £3.8m despite a drop in both sales and pre-tax profit at the 11-store business during 2009.

The chain reported a £2.5m drop in sales to £360m for the 52 weeks to January 29, while pre-tax profits declined by £600,000 to £35m. 

According to accounts filed at Companies House, a dividend of £11 per share was paid on ordinary shares on November 2, 2009 and a second interim dividend of £18 per share was paid on March 12. There is no proposal of a payment of a final dividend.

Fenwick has stores in London, Newcastle and Canterbury.

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