The Wincanton Board is proposing a final dividend of 8.0p (2021: 7.5p), which, together with the interim dividend of 4.0p per share (2021: 2.85p per share), will result in a total dividend per share for 2022 of 12.0p (2021: 10.35p). This brings the total dividend back above pre-pandemic levels and broadly tracks the improvement in underlying earnings. The proposed final dividend is subject to approval by shareholders at the Annual General Meeting on 12 July 2022 and if approved by shareholders, will be paid on 5 August 2022 to shareholders on the register on 15 July 2022. The estimated final dividend amount to be paid is £10m and in accordance with Adopted IFRS has not been included as a liability in these statements.
Other financial highlights include:
Full year revenue up 16.3% to £1,421.4m; 19.4% organic revenue growth excluding disposals and Cygnia Logistics acquisition in September 2021
Underlying profit before tax up 23.1% to £58.1m (2021: £47.2m), an increase of 10.0% on pre-pandemic levels (2020: £52.8m)
Inflationary headwinds mitigated by management actions on costs and contract mix; less than 30% of Group revenue from closed book contracts
Strong cash focus maintained; closing net cash of £3.7m (2021: net cash of £11.9m); free cash flow generated from operating activities offset by acquisition spend