Randall & Quilter Investment Holdings announce interim dividend of 2.0 pence per share

DividendMax Ltd.

Randall & Quilter Investment Holdings announce interim dividend of 2.0 pence per share

The Board of Randall & Quilter Investment Holdings Ltd. are to confirm that it will pay an interim dividend of 2.0 pence per share on 12 October 2021. The dividend will be paid to shareholders on the register on 24 September 2021, with a corresponding ex-dividend date of 23 September 2021. They will reiterate an intention to grow the total amount of the annual cash dividend from the fiscal year 2020 level of 4 pence per share, in line with their progressive dividend policy.

Other financial highlights include:

Pre-Tax Operating Loss of $23.5 million; loss reduced to approximately breakeven when including two signed Legacy Insurance transactions with $23 million of Underwriting Profit that are expected to close in H2 2021, reflecting the episodic earnings profile associated with Legacy Insurance

Program Management Gross Written Premium of $890 million and Fee Income of $50 million (H1 2021 annualised), increases of 80% and 135%, respectively, from H1 2020

Program Management Pre-Tax Operating Profit of $20 million (H1 2021 annualised) compared with $1.6 million (H1 2020 annualised); Pre-Tax Operating Profit Margin of 40% compared with 7.5% at H1 2020

Program Management Gross Written Premium target for FY 2023 increased to $1.75 billion from $1.5 billion

Legacy Insurance completed eight transactions

Legacy Insurance pipeline of over $1 billion of reserves; traditionally ~70% of transactions complete in H2

Changed reporting currency to US Dollars for fiscal year 2021

Companies mentioned