Pets at Home rejigs shareholder returns as new CEO backs outlook

Pets at Home Group PLC (LSE:PETS) reported an acceleration in sales growth at its shops in the new financial year as the pet care retailer backed market profit expectations for 2027 and rejigged its shareholder returns policy. A "rebased" shareholder returns policy sees the dividend cut to 7.4p from 13p, with an increasing emphasis on share buybacks, starting with a £50 million programme over the next 12 months.