Aug 12 (Reuters) - Australian consumer electronics retailer JB...

Aug 12 (Reuters) - Australian consumer electronics retailer JB Hi-Fi (JBH) announced a special dividend on Monday citing a strong net cash position and reported better-than-expected full-year 2024 results.

JB Hi-Fi announced a special dividend of 80 Australian cents apiece on top of the final dividend of A$1.03 apiece, taking the fiscal 2024 payout ratio to 65% of post-tax net profit.

"As a result of the group's continued strong financial performance and cashflow generation, the group has an elevated net cash position and a significant franking credit balance," the electronics retailer said in an exchange filing.

Net profit after tax for the year ended June 30 came in at A$438.8 million ($288.2 million), above Visible Alpha consensus of A$423.1 million. However, it was below the prior year's earnings of A$524.6 million.

Sales for the year were largely unchanged at A$9.59 billion and beat consensus estimates by a narrow margin.

Consumer sentiment has been under pressure for the past two years as decade-high interest rates and sticky inflation prompt households to cut discretionary spending.

The consumer electronics giant in a separate filing announced the acquisition of white goods retailer e&s Trading for an initial cost of A$47.8 million for a 75% stake.

There is a put and call option arrangement in place for the acquisition of the remainder stake in September 2029, JB Hi-Fi added.