The Tatton Asset Management Board is proposing to increase the final dividend by 13.3% to 8.5p per share, bringing the total ordinary dividend for the year to 12.5p per share, an increase of 13.6%, which is 1.5 times covered by adjusted earnings per share. Subject to shareholder approval at the forthcoming Annual General Meeting, the dividend will be paid on 2 August 2022 to shareholders on the register on 24 June 2022. The ex-dividend date will be 23 June 2022.
Other financial highlights include:
●Group revenue increased 25.7% to £29.356m (2021: £23.353m)
●Adjusted operating profit up 27.4% to £14.526m (2021: £11.402m)
●Adjusted operating profit margin 49.5% (2021: 48.8%)
●Adjusted fully diluted EPS2 increased 26.3% to 18.62p (2021: 14.74p)
●Strong financial liquidity position, with net cash of £21.710m (2021: £16.934m)
●Strong balance sheet - Net assets increased 27.3% to £31.044m (2021: £24.446m)