Diploma PLC announce a final dividend of 30.1p

DividendMax Ltd.

Diploma PLC announce a final dividend of 30.1p

The Diploma PLC Board has a progressive dividend policy that aims to increase the dividend each year, broadly in line with growth in adjusted EPS. The combination of strong results and free cash generation, supported by a robust balance sheet, has led the Board to recommend a 51% increase in the final dividend to 30.1p (2020: 20.0p) taking the total dividend for the year to 42.6p (2020: 30.0p). This represents dividend cover of 2.0x, in-line with their model. Subject to shareholder approval at the Annual General Meeting ("AGM"), this dividend will be paid on 4 February 2022 to shareholders on the register at 21 January 2022. 

Other financial highlights include:

Underlying revenue growth 12% year-on-year, well ahead of their 5% financial model and 7% up on FY 2019, driven by their organic growth initiatives and better demand. 

Strong overall acquisition contribution with an outstanding Windy City Wire ("WCW") performance.

Adjusted operating margin +270bps to 18.9%, supported by value-add servicing distribution model, offsetting inflation, and well ahead of their 17%+ financial model. 

51% growth in adjusted earnings per share ("EPS").

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