Sir James Dyson's company gave out a £111m dividend last year as profits boomed

 
Jasper Jolly
The Dyson Supersonic Hair Dryer Launch Event
Dyson now manufactures hair dryers as well as their famous vacuum cleaners (Source: Getty)

The company which controls the business interests of billionaire inventor Sir James Dyson paid out £111m in dividends last year, according to its latest company accounts.

Dyson and his family own 100 per cent of Weybourne Group, the parent company of vacuum cleaner giant Dyson Group. However, the firm declined to disclose the proportion of the dividend paid to them.

The 2016 dividends paid rose from £98.3 in 2015, a 13 per cent increase.

The highest paid director earned £4.2m, although the firm declined to comment on the director’s identity.

Read more: Dyson vacuums up a £631m profit

The annual accounts show Weybourne’s pre-tax profits of £473m in 2016, a massive 55 per cent increase on the previous year.

Dyson Group is by far the biggest driver of income in the group, with turnover of £2.5bn during the year – an increase of 45 per cent year-on-year.

That growth was driven by a massive expansion in Asian markets. Dyson’s overall employee headcount expanded by 36 per cent during the year, to reach more than 8,700 at the end of 2016.

The US remains the biggest market for Dyson, while it has also expanded its operations in India.

Dyson is known as one of the foremost entrepreneurs in Britain, with a fortune estimated at £7.8bn by the Sunday Times Rich List, the 14th in the UK. He was also one of the most prominent business voices in favour of Brexit during last year’s referendum campaign.

Read more: Brexit uncertainty "an opportunity" says Dyson billionaire

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