Real Mr Selfridge (and family) pick up £39m dividend
THE London department store that inspired the TV drama series Mr Selfridge has handed its owners a gold-plated dividend after sales in the 12 months to January increased by 16per cent to £1.6billion.
Selfridges paid a £38.5million annual dividend – almost three times the previous year – following a surge in sales as tourists swarmed to snap up its luxury brands and latest fashions.
The company was founded by US-born Harry Gordon Selfridge in 1906, but the group has been owned by Canadian Galen Weston and his family since 2003.
Visitors from abroad went on spending sprees as foreign currencies have been going further in Britain since the pound dived after the Brexit referendum.
The payment increase follows a dip in the dividend paid last year. It suggests the £300million transformation of its flagship store and online shop is paying off.
Galen Weston lives in Ireland and also owns Dublin store Brown Thomas. His cousin George is chief executive of Primark owner Associated British Foods, in which the family has a major stake.