Due to the uncertainty of COVID-19, the Mitie Group Board did not recommend a final dividend in respect of the year to 31 March 2020, and no interim or final dividend for the year to 31 March 2021.
However, the Board indicated that it would take account of cash generation and the performance of the underlying business when considering the reinstatement of a dividend in FY22.
With £86m of free cash flow reported in the first half of the year, average daily net debt of £60m, and the underlying performance of the business back to pre-COVID levels, the Board is reintroducing an interim dividend at 0.4p per share (H1 FY21: nil). The dividend will be paid on 2 February 2022 to all shareholders that are on the register at the close of business on 17 December 2021. Shares in the company will be quoted ex-dividend on 16 December 2021. The dividend reinvestment plan election date is 12 January 2022.