The Oxford Instruments Group's policy is to increase the dividend each year in line with the increase in underlying earnings, considering movements in currency. Following the high uncertainty created by the impact of covid, the Group did not pay a dividend for the 2019/20 financial year. After a resilient year of trading, the Board has proposed a final dividend of 12.9p per share. This results in a total dividend of 17.0p per share, equivalent to a two-year compound annual growth rate of 8.7% from 2018/19. An interim dividend of 4.1p per share was paid on 14 April 2021. The final dividend will be paid, subject to Shareholder approval, on 15 October 2021 to Shareholders on the register as at 10 September 2021.
Other financial highlights include:
Revenue growth of 1.7% at constant currency against challenging backdrop. Strong growth in orders of 5.3% to £353.7m (+6.7% at constant currency).
Reported order book grew by 13.2% (17.8% at constant currency) to £198.1m
Strong growth in adjusted operating profit, with margin rising to 17.8% (2020: 15.9%).
Cash conversion remains high, with increase in net cash to £97.6m.