Kingfisher plc Proposes Final Dividend

Kingfisher plc announced that the Board has proposed a final dividend of GBP0.0637 which gives a full year dividend of GBP0.0884, an increase of 25.0% (2010/11: GBP0.0707). The final dividend reduces full year dividend cover on adjusted earnings to 2.8 times (2010/11: 2.9 times) which is in line with the Company's medium term objective to lower dividend cover from 3.0 times to 2.7 times adjusted earnings. At this level, the Board believes the dividend will continue to be prudently covered by earnings and free cash flow and remain consistent with the capital needs of the business. As previously announced, the Group's interim dividend is calculated automatically as 35% of the prior year's total dividend. Based on this, the interim dividend to be paid in November 2012 would be GBP0.0309 per share (2011: GBP0.0247 per share). The full year dividend will continue to be proposed each year as part of the full year preliminary announcement in March. The final dividend for the year ended January 28, 2012, will be paid on June 18, 2012 to shareholders on the register at close of business on May 4, 2012, subject to approval of shareholders at the Annual General Meeting, to be held on June 14, 2012. A dividend reinvestment plan (DRIP) is available to shareholders who would prefer to invest their dividends in the shares of the Company. The shares will go ex-dividend on May 2, 2012.