Pets At Home (PETS.L) Cuts Dividend After FY26 Profit Drop, Unveils £50M Buyback

Pets At Home Group Plc reported a decline in fiscal 2026 profit and reduced its dividend, while authorizing a £50 million share buyback program and forecasting fiscal 2027 earnings in line with market consensus, the company said Wednesday. The UK pet care retailer did not immediately disclose the scale of the profit drop but attributed the weakness to challenging trading conditions. The board lowered the final dividend, trimming the total payout for the year ended March 2026. As a shareholder return measure, it launched a £50 million stock repurchase plan. Looking ahead, management said it expects adjusted pretax profit for the current fiscal year ending March 2027 to meet analyst projections. Shares of Pets At Home (PETS.L) will open for trading in London later Wednesday.