The DiscoverIE Board are to declare an increase in the interim dividend of 6% to 3.35p per share (H1 2020/21: 3.15p per share). Since 2010, the annual dividend per share has doubled and the total dividend payment has increased by nearly 400%.
The Board believes that, as an acquisitive growth company, maintaining a progressive dividend policy is appropriate along with a long-term dividend cover of over three times on an underlying basis. This approach will enable funding of both sustainable dividend growth and a higher level of investment in acquisitions from internally generated resources.
The interim dividend is payable on 14 January 2022 to shareholders registered on 17 December 2021.
Other financial highlights include:
o Organic orders: +64% (v H1 2020/21) and +34% (v pre-Covid period H1 2019/20)
o Organic sales: +15% (v H1 2020/21) and +8% (v H1 2019/20)
o Underlying operating profit from continuing operations: +32%
o Underlying EPS from continuing operations: +37%