The MTI Wireless Edge Board is to declare a final dividend of US$0.028 per share representing a 12% increase on the previous year (2019: US$0.025). The dividend will be paid on 31 March 2022 to shareholders on the register at the close of trading on 18 March 2022 (ex-dividend on 17 March 2022). The currency translation into British Pounds will be made on 22 March 2022 and there will not be a scrip dividend alternative.
Other financial highlights include:
• The Group recorded revenue growth of 6% to US$43.2m (2020: US$40.9m)
• A 9% increase in profit from operations to US$4.43m (2020: US$4.08m), helped by the increasing scale of the Group
• Net profit growth was limited to a 6% increase to US$3.7m (2020: US$3.5m) due to the strength of the Israeli Shekel versus the US Dollar in 2021
• Earnings per share increased by 6% to 4.07 US cents (2020: 3.83 US cents)
• Cash flow from operations increased 65% to US$6.6m (2020: US$4.0m) leading to a net cash increase of 33% to US$12.5m at 31 December 2021 (31 December 2020: US$9.4m)