The interim dividend for 2019 for Spirax-Sarco, paid on 8th November 2019, was raised by 10% to 32.0 pence per share (2018: 29.0 pence per share). The Board is recommending an increase in the final dividend of 10% to 78.0 pence per share (2018: 71.0 pence). Subject to approval of the final dividend by shareholders at the Annual General Meeting (AGM) on 13th May 2020, the total Ordinary dividend for the year will be 110.0 pence per share, an increase of 10% over the 100.0 pence per share for the prior year.
Other financial highlights include:
Reported revenue growth of 8%, organic revenue growth of 6%
Adjusted operating margin of 22.8%, up 10 bps organically
Strong organic sales growth in Steam Specialties and Watson-Marlow
Chromalox operating margin increased to 15.1% in H2
Net debt of £295.2 million as at 31st December 2019, 0.9x EBITDA
Statutory operating profit down 18% due to non-recurring gain on disposal in 2018