Returns to shareholders
Our share price has held up well since our flotation, despite the turbulence in the market. From our IPO date of 17 February 2016 to the end of our financial year on 30 September 2016 we delivered a total shareholder return of 7.9 per cent.
We have recommended our first dividend of 3.4 pence per share. Subject to approval at the AGM on 26 January 2017, the dividend will be paid on 3 February 2017 to shareholders registered at 13 January 2017.
We have set a target dividend pay-out ratio of 30 per cent of adjusted earnings as we look to use the remaining profits to reinvest in growth, while maintaining a broadly debt-neutral strategy.