Ricardo plc announce an interim dividend of 1.75

DividendMax Ltd.

Ricardo plc announce an interim dividend of 1.75

The Ricardo PLC Board has declared an interim dividend of 1.75p per share (HY 2019/20: 6.24p), which reflects the Board's desire to return to paying dividends to shareholders, balanced with the speed and shape of the economic recovery as we emerge from the impact of COVID-19. The dividend will be paid on 9 April 2021 to holders of ordinary shares on the company's register of members on 5 March 2021.

Other financial highlights include:

Trading in line with expectations, with the business recovering from the impact of COVID-19;

Order intake, revenue and operating profit have all increased on the six months to June 2020, albeit lower than HY 2019/20;

Good performance in Energy & Environment and Rail, both delivering an increase in profits on HY 2019/20;

Automotive market overall remains challenging, but is improving slowly with increased order intake in the US and China compared to the six months to June 2020;

Performance Products deliveries in line with our expectations;

Defense fleet retrofit approaching contract award;

Share placing completed, raising £28m, to reset the capital structure of the Group;

Excluding the fund raise and adjusting items, underlying reduction in net debt of c.£3m for the period (increase in net debt of c.£5m after adjusting items); and

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