The Ricardo PLC has paid its interim dividend of 1.75p per share (£1.1m) on 9 April 2021 (HY 2019/20: 6.24p, £3.3m). The Board has declared a final dividend of 5.11p per share (£3.2m) (FY 2019/20: nil), which will be paid on 25 November 2021 to holders of ordinary shares on the Company's register of members on 4 November 2021. This reflects the Board's desire to return to paying dividends to shareholders, balanced with the speed and shape of the economic recovery as they emerge from the impact of COVID-19.
Other financial highlights:
The business continues to grow and they are well positioned as markets recover post COVID-19.
Positive momentum, with H2 underlying profit before tax of £13.0m, compared to £5.0m in H1.
All segments, except Automotive & Industrial, increased profitability on the prior year:
o Energy & Environment and Rail performed strongly, with increased margins
o Defense ABS Retro-Fit deliveries commenced
o In Performance Products, transmission volumes increased year-on-year and engine volumes increased steadily throughout the year
o Within Automotive & Industrial, performance improved in the US and China and declined in EMEA
Equity fund raise, together with a strong working capital performance, enabled the Group to reduce net debt by 36% to £46.9m.