full-year dividend maintained at 11.71p

DividendMax Ltd. full-year dividend maintained at 11.71p

The Group Board has recommended a final dividend of 8.61p pence per share (2020: 8.61p), making the proposed full year dividend 11.71p pence per share (2020: 11.71p). This reflects the ongoing good cash conversion of the business, strong balance sheet and the Board's confidence in the future prospects of the Group.  

The final dividend will be paid on 12 May 2022 to shareholders on the register on 1 April 2022, subject to approval by shareholders at the Annual General Meeting to be held on 5 May 2022.

Other financial highlights include:

Revenue down 8% (down 11% excluding Quidco) - Home Services heavily impacted by wholesale energy prices, Insurance performance softer, Money performance strong

Gross margin up c.4%pts driven by more efficient customer acquisition and improved conversion in car insurance and borrowing

Adjusted EBITDA down 7% with cost increases from acquisitions and staff incentives partly offset by operational efficiencies 

Profit after tax down further due to adjusting items charges for acquisitions

Operating cashflow of £65.7m was strong, although lower cash conversion reflected one-off working capital outflows; net debt reflects purchase of Quidco in November

Companies mentioned