Foremost, the UK’s leading golf retail and marketing group has announced its members have enjoyed record dividend and share increases following a hugely successful 2016.
Along with this year’s dividend of £0.16p per share, members have enjoyed an average return of 14% since the share scheme first started in 2004, with the shares having increased from £1.00 to their current value of £3.76.
Foremost CEO Paul Hedges said: “This achievement is even more impressive when you consider it’s been during a period when shares across much of the retail sector have been under increasing pressure.”
To better understand the results, we should read carefully what Phil Barnard, Partner at GolfDatatech said in an interview in Golf Retailing (UK):
“Overall, seven on the course and 12 off course categories grew in value in 2016. Everything except Trolleys and weather-wear saw an overall increase, with the latter being the worst performing category with a decline of 2.6%, incredible considering it was one of the best performing categories up to June. The biggest winner of the year was Trousers – with more than a 14% increase in sales value.
2016 saw the top three categories change in relative priority from the largest being Woods, Irons, and Balls to Woods, Irons, and Footwear. Footwear became the 3rd most valuable category for the first time since we have been tracking the data.”