QinetiQ increases its 2015 full year dividend by 17%

DividendMax Ltd.

QinetiQ increases its 2015 full year dividend by 17%


Strong performance in EMEA Services with increased orders, revenue and operating profit

Core Air, Weapons and Maritime businesses all performed well

New President appointed to lead repositioning of US Global Products in response to a challenging market

Continued high cash conversion

£150m share buyback well advanced;  £128m complete at 15 May 2015

17% increase in full year dividend reflecting upgrade at the half year and progressive dividend policy

 77% revenue under contract at start of FY16 consistent with prior year; balance supported by pipeline of opportunities

Maintaining expectations for Group performance in the current financial year

Steve Wadey, who joined QinetiQ as Chief Executive Officer on 27 April 2015, said:

"In my first few weeks at QinetiQ I've been impressed with the expertise of our people, as well as our capabilities and technologies, all of which are well matched to the dynamics in our markets. It's a company with great potential and I look forward to working with our customers to develop and grow QinetiQ to meet their changing needs."

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