StockMarketWire.com - Cake retailer Cake said it would pay a special dividend in lieu of its withdrawn final dividend after reporting 'very strong' performance since reopening its stores.

The company said it had decided to pay a special dividend of 3.2p per share, the same amount as the final dividend for the year ending 31 March 2020 that was withdrawn on 14 April 2020.

In the last three months, since the reopening of the estate, trading had been 'very strong,' with like-for-like sales growth of about 14.1% in franchise stores, the company said.

Online sales were up about 74% compared to the previous year three-month period.

The period to 30 August 2020 included a period of six weeks during which all of the group's stores were closed due to the UK lockdown, impacting sales, it added.

Since the start of June, the group opened five new stores including in Swindon and Basingstoke.



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