Redcentric decided to increase the dividend to reflect a cover of 2 times adjusted earnings. This will result in a final dividend of 1.0p per share.
Financial Highlights
Revenue of £93.3m (FY18: £100.0m), including £81.0m (86%) of recurring revenue (FY18: £87.1m, 87%)
Adjusted EBITDA of £16.7m (FY18: £18.1m) and adjusted EBITDA margin of 17.9% (FY18 18.1%)
Adjusted basic EPS of 3.89p (FY18: 4.35p). Statutory EPS of (1.32)p (FY18: 0.34p)
Adjusted cash flow from operations of £21.3m (FY18: £22.6m)
Net debt reduction of £10.1m to £17.6m (FY18: £27.7m)
Enhanced dividend policy announced with a cover of 2x adjusted earnings, doubling the pay-out ratio announced at the half year
Final dividend of 1.0p per share resulting in a total dividend for the year of 1.4p
The Board to request authority for a share buyback programme of up to 5% of the issued share capital at the upcoming AGM
