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Renew Holdings proposes an increased final dividend of 7.67p per share

Investment Tools Ltd.
Renew Holdings proposes an increased final dividend of 7.67p per share

The Renew Plc Board proposes a final dividend of 7.67p per share (2018: 6.67p) to be paid on 6 March 2020 to shareholders on the register as at 31 January 2020. The ex-dividend date will be 30 January 2020. This will represent a full year dividend of 11.5p per share (2018: 10.0p) reflecting their confidence in the Group's future prospects.

Other financial highlights include:

Engineering Services revenue grew 21 per cent to £564.5m (2018: £466.5m)

Engineering Services adjusted operating profit increasing by 21 per cent to £39.4m (2018: £32.5m)

- Performance reflects full contribution from QTS and strong momentum at the end of rail CP5, which contributed towards organic growth of 8 per cent

Increase in Engineering Services order book to £542m (2018: £510m)

Activity levels in first year of CP6 are in-line with management forecasts, with momentum growing as expected

Net debt at the year-end was reduced in-line with expectations to £10.2m (2018: net debt £21.4m)

- Reflecting reliable cash generation and conservative approach to gearing

Companies mentioned

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