The Coats Group Plc board has proposed a final dividend of 1.50 cents per share, +15% vs the 2020 final dividend (1.30c). Subject to approval at the forthcoming AGM, the final dividend will be paid on 25 May 2022 to ordinary shareholders on the register at 29 April 2022, with an ex-dividend date of 28 April 2022. Alongside the interim dividend of 0.61 cents per share, this makes a total of 2.11 cents per share for the full year 2021.
Other financial highlights include:
Adjusted operating profit $193 million (reported $179 million); inflationary pressures absorbed by successful pricing actions and self-help productivity programmes
A&F adjusted operating margins 15%; PM adjusted operating margins 7%, or 14% excluding the US
Adjusted EPS of 6.8c per share (reported 6.1c per share), vs 2.4c per share in 2020
Strong cash generation; net debt (excl. lease liabilities) of $147 million and strong adjusted free cash flow of $113 million; 0.7x leverage