JD Wetherspoon resumes dividend as profits rise

The company, which has 746 pubs across Britain including 50 in Yorkshire, said underlying pre-tax profit rose to 36.2m in the 26 weeks to January 24.

Wetherspoon said it would pay a total dividend of 12p per share and, in light of the refinancing, rewarding shareholders with a special dividend of 7p per share.

The company scrapped dividend payments this time last year pending successful completion of a refinancing.

Wetherspoon said on Thursday it had agreed a new 530m banking facility, expiring in March 2014, with a syndicate of eleven banks, comprising a mix of new and current lenders.

That will replace its previous 435m facility which was due to expire in December this year.

Wetherspoon has been among the best performing pub companies through the recession as cut price meals such as ham, egg and chips for 2.99 and a pint of Greene King IPA beer for 99p proved attractive to cash-strapped consumers.