Maintaining a progressive dividend policy and recognising their confidence in the future, Iomart will pay an interim dividend of 2.60p per share (H1 2019: 2.45p) on 31 January 2020 to shareholders on the register on 20 December 2019, with an ex-dividend date of 19 December 2019. This dividend represents an increase of 6% on the interim dividend of last year and a pay-out ratio of 31% of the adjusted diluted earnings per share for the interim period.
Other financial highlights include:
Adjusted EBITDA benefitted by £1.5m from transition to IFRS 16 lease accounting
Adjusted profit before tax and earnings per share reflects over £1m annualised investment in sales engine and broader mix of revenue
Cash generated from operations in the period of £20.6m (H1 2019: £14.5m) which retains the consistently strong profit to cash conversion
Period end net debt of £58.7m, at a comfortable level of 1.3 times annualised EBITDA