An interim dividend of 0.45 pence (2018/19: 0.95 pence) per ordinary share was approved by the Renewi Board on 7 November 2019 and will be paid on 10 January 2020 to shareholders on the register at close of business on 29 November 2019.
The final dividend for the year ended March 2019 was €4.4m (2018: €18.9m) being 0.5 pence (2018: 2.1 pence) per share.
Other financial highlights include:
Revenue from total operations up 3% to €926.5m
Underlying EBIT from total operations up 3% to €46.3m
Underlying profit before tax from total operations down 8% to €31.2m
Underlying EPS from total operations down 7% to 2.9 cents per share
Total exceptional items of €60m, of which 90% (€54m) relates to the strategic disposals mostly non-cash, resulting in a statutory loss of €35.4m for the period
On a continuing operations reported basis, revenue up 3% to €916m, loss before tax of €18.8m (2018: €19.3m profit) and basic loss per share of 2.4 cents (2018: earnings 2.4 cents)
Strong cash flow performance with underlying free cash flow conversion of 129%
Core net debt* reduced to €514m, representing net debt to EBITDA of 2.88x against a covenant of 3.5x which has been extended to December 2021; IFRS 16 debt impact of €165m