The Learning Technologies Board is committed to a progressive dividend policy. Based on strong cash generation and an improved trading outlook and promising recent acquisitions, the Board is confident about the year ahead. It is therefore recommending a final dividend of 0.50 pence per share (2019: 0.50 pence), giving a total dividend for the year of 0.75 pence per share, in line with the prior year.
If approved the final dividend will be paid on 25 June 2021 to all shareholders on the register at 4 June 2021.
Other financial highlights include:
Deployed £81.8 million raised in equity placing to accelerate future growth in the talent development market; delivered 8 acquisitions since beginning of 2020 contributing c.£50 million of proforma revenue
On track to deliver against strategic targets announced at the time of the placing for end of 2022; c.£230 million run-rate revenues and c.£66 million run-rate adjusted EBIT
High quality of earnings with 81% recurring revenue (2019: 74%) and robust adjusted EBIT margins maintained above 30%
Software & Platforms revenue growth of 13% year-on-year (76% of Group revenue) - stable organic performance supplemented by acquisitions
Content & Services revenue declined by 22% (24% of Group revenue)
o Anticipate stronger performance in 2021, returning to pre COVID-19 levels
Robust balance sheet and strong cash generation supports further investment for growth