Galliford Try Holdings Plc announce a final dividend payment of 7.5p up 29

DividendMax Ltd.

Galliford Try Holdings Plc announce a final dividend payment of 7.5p up 29

Galliford Try Holdings Plc announce an improved annual dividend policy of 1.8x cover to recognise the value of the PPP assets.

Final dividend payment of 7.5p up 29% (2022: 5.8p), together with an interim dividend of 3.0p giving a total dividend for the financial year of 10.5p, up 31%.

Special dividend to shareholders of 12.0p per share, as previously announced following resolution of a long running dispute, to be paid in October 2023.

Other financial highlights include:

Strong performance across all operations delivering increased revenue and profit.

Pre-exceptional profit before tax increased by 23% to £23.4m (2022: £19.1m) excluding the £2.8m contract settlement write-off previously announced.1,2

Divisional operating margin of 2.4% (2022: 2.4%), with increased confidence in our target margin of 3% by 2026.3

Share buyback returned a further £10.6m to shareholders during the year and is now over 90% complete.

Well-capitalised debt-free balance sheet, average month end cash for the period of £135m (2022: £174m), PPP asset portfolio of £44.6m (2022: £47.5m) and no pension liabilities.

Improved outlook with high quality £3.7bn order book (2022: £3.4bn) positioned across their chosen sectors and 92% of FY24 revenue already secured.

Increased confidence in FY24 outlook, with pre-exceptional profit before tax expected to be at the upper end of the current range of analyst estimates.

On track to deliver FY26 targets and their Sustainable Growth Strategy.

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