Keller announce a recommended final dividend of 23.3p

DividendMax Ltd.

Keller announce a recommended final dividend of 23.3p

The Keller Board is recommending the payment of a 2021 final dividend of 23.3p per share (2020: 23.3p per share) to be paid on 1 July 2022 to shareholders on the register as at the close of business on 6 June 2022. 

Other financial highlights include:

Revenue increased to £2,224.4m, up 13% (at constant currency) as a result of increased trading activity, particularly during the second half, and several bolt-on acquisitions (up 9.7% on an organic basis)

Record order book at £1.3bn; well positioned for future growth

Underlying operating profit of £92.8m, ahead of market expectations, but down 10% (at constant currency) reflecting adverse pressure on market pricing, operational disruption due to COVID-19 and unrecovered steel price increases at Suncoast 

Underlying EPS of 88.4p, down 8%, decline mitigated by lower finance costs and a prior year benefit from R&D tax credit

After funding acquisitions, net debt (on a bank covenant IAS 17 basis) marginally improved to £119.4m, equating to net debt/EBITDA leverage ratio of 0.8x (2020: 0.7x)

Further progress in operational safety evidenced by a 42% improvement in overall accident frequency rate

Net zero targets set across all three emission scopes by 2050; net zero on Scope 2 by 2030, net zero on Scope 1 by 2040 and net zero by 2050 on Operational Scope.

Further execution of strategy with portfolio refinement and several acquisitions that build share in their chosen markets, particularly RECON Services, Inc in North America

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