Ultra Electronics reinstates dividend

DividendMax Ltd.

Ultra Electronics reinstates dividend

As announced on 14 April 2020, as a precautionary measure due to the COVID-19 pandemic, the Board decided to postpone payment of its 2019 final dividend of 39.2 pence per share. Based on the Board's current knowledge, the robust liquidity position, the strong H1 performance and expected full year performance relative to the COVID-19 scenario modelling undertaken, an additional interim dividend equivalent to the postponed full year 2019 dividend of 39.2 pence per share will now be paid on 18 September 2020 to shareholders on the register at 28 August 2020.

The 2020 interim dividend of 15.4p (2019: 15.0p) will also be paid on the same date as the postponed 2019 dividend (18 September 2020 to shareholders on the register at 28 August 2020). Remaining cautious to the current pandemic the proposed amount is 2.7% increase versus the prior year, with the interim dividend being covered 3.6 times (2019: 3.5 times) by underlying earnings per share.

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