WYG increases its 2016 full year dividend by 50%

DividendMax Ltd.

WYG increases its 2016 full year dividend by 50%

Financial overview:

Revenue up 2% to £133.5m (2015: £130.5m)

o Second half revenues of £70.9m were up 5% on H2 2015 (£67.3m) 

Adjusted operating profit up 24% to £7.2m (2015: £5.8m)

o Adjusted operating margins improved from 4.4% to 5.4% year on year

Adjusted profit before tax up 23% to £7.0m (2015: £5.7m)

o Second half adjusted profit before tax up 29% to £4.9m (H2 2015: £3.8m)

Profit before tax up 54% to £2.2m (2015: £1.4m)

Adjusted earnings per share up 9% to 10.0p (2015: 9.2p)

Earnings per share 4.0p (2015: 2.9p)

Total cash net of debt as at 31 March 2016 £0.2m (31 March 2015: £12.3m) after £7.9m investment in
 acquisitions

Proposed final dividend of 1.0p (2015: 0.7p) giving a total dividend for the year of 1.5p (2015: 1.0p)

Eliminated remaining defined benefit pension risk by transferring WYD Pension Scheme to Just Retirement Limited with anticipated return of surplus to WYG