The Keywords Studios PLC Board's progressive dividend policy seeks to reflect the Group's continued growth in earnings and strong cash generation, balanced with the need to retain the resources to fund growth opportunities, in line with their strategy.
Following the interim dividend payment of 0.70p per share in October 2021, the Board has recommended a final dividend of 1.45p per share, which will make the total dividend for the year ending 31 December 2021, 2.15p per share, an increase of 10% per annum over the 2018 full year dividend (2018: 1.61p per share). Subject to shareholder approval at the Annual General Meeting, the final dividend will be paid on 17 June 2022 to all shareholders on the register at 27 May 2022 and the shares will trade ex-dividend on 26 May 2022. The cash cost of the final proposed dividend will be an estimated €1.3m, subject to currency fluctuations.
Other financial highlights include:
Adjusted profit before tax up 56.4% to €86.0m, with margin up 2.1% pts to 16.8% (2020: 14.7%)
Strong cash conversion with Adjusted Free Cash Flow of €92.3m (2020: €53.4m) and an Adjusted Cash Conversion rate of 107.3% (2020: 97.2%)
Net cash of €105.6m (2020: €102.9m), after €65.5m net cash spend on acquisitions in 2021, and a renewed €150m undrawn Revolving Credit Facility