The Clipper Logistics Board is recommending a final dividend of 6.2 pence per share, making a total dividend in respect of the year ended 30 April 2020 of 9.7 pence (2019: 9.7 pence).
The proposed final dividend, if approved by shareholders, will be paid on 5 October 2020 to shareholders on the register at the close of business on 11 September 2020.
Other financial highlights include:
Group revenue increased by 8.8% from £460.2m to £500.7m.
Group EBIT1 up 19.1% to £24.1m (2019: £20.2m).
Group profit after tax of £16.2m (2019: £13.4m).
Basic earnings per share were 15.9 pence (2019: 13.2 pence), an increase of 20.5%.
Cash generated from operations1 of £31.9m (2019: 28.3m).
Net debt at 30 April 2020 was just over 1xEBITDA, representing very substantial headroom against the net debt covenant of 2.5x.