The UDG Healthcare directors are proposing a final dividend of 12.54 $ cent per share representing an increase of 1.6% on the 2019 final dividend of 12.34 $ cent per share. This represents 1.2% growth in the total dividend for the year to 17.00 $ cent per share. This continues the Group's 30 year history of consistently increasing dividends.
Subject to shareholder approval at the Company's Annual General Meeting, the proposed final dividend of 12.54 $ cent per share will be paid on 5 February 2021 to ordinary shareholders on the Company's register at 5.00 p.m. on 8 January 2021.
Other financial highlights include:
Adjusted diluted earnings per share (EPS) of 47.71c (FY19's EPS of 47.31c), ahead of EPS guidance of 43c to 45c announced in August 2020
Group net revenue increased by 5%
Group adjusted operating profit increased by 7%, driven by:
o An exceptionally strong performance from Sharp with adjusted operating profit increasing by 34%
o A resilient performance from Ashfield with adjusted operating profit decreasing by 4%
Adjusted Group net operating margins increased from 14.0% to 14.3%
Continued strong cash flow performance with a free cash flow conversion rate of 111%
Robust balance sheet and liquidity position with net debt to EBITDA of 0.1x
ROCE increased from 13.1% in FY19 to 13.5% in FY20