The Board of Ramsdens Holding PLC Board has recommended a final dividend of 1.2p for approval at the forthcoming AGM. This represents the full earnings for the year and takes into account that the Group's strong cash position is sufficient to deliver on its growth plans. Subject to approval at the AGM, the final dividend is expected to be paid on 10 March 2022 for those shareholders on the register on 4 February 2022. The ex-dividend date will be 3 February 2022. As they move forward, they will resume their progressive dividend policy of paying approximately 50% of post-tax profits to shareholders, always subject to executing on the Group's growth opportunities.
Other financial highlights include:
Resilient performance achieved under challenging trading conditions caused by COVID-19 restrictions.
A profitable year with continued modest investment in long term strategic growth opportunities and a strong year-end balance sheet with net cash of £13.0m.
The Group kept almost all stores open through the retail lockdowns and continued to provide essential services that offer financial support to their loyal customers.
The Group received £1.6m of Government Support during the year, including £1.5m through the furlough scheme to assist in retaining jobs.
Travel restrictions were tougher in summer 2021 than in summer 2020, significantly impacting foreign currency exchange volumes. This resulted in foreign currency income approximately £10m lower than pre pandemic levels.
The investment in the Group's online retail jewellery operation has led to online sales more than doubling year on year.