The Renew Plc Board proposes a final dividend of 7.67p per share (2018: 6.67p) to be paid on 6 March 2020 to shareholders on the register as at 31 January 2020. The ex-dividend date will be 30 January 2020. This will represent a full year dividend of 11.5p per share (2018: 10.0p) reflecting their confidence in the Group's future prospects.
Other financial highlights include:
Engineering Services revenue grew 21 per cent to £564.5m (2018: £466.5m)
Engineering Services adjusted operating profit increasing by 21 per cent to £39.4m (2018: £32.5m)
- Performance reflects full contribution from QTS and strong momentum at the end of rail CP5, which contributed towards organic growth of 8 per cent
Increase in Engineering Services order book to £542m (2018: £510m)
Activity levels in first year of CP6 are in-line with management forecasts, with momentum growing as expected
Net debt at the year-end was reduced in-line with expectations to £10.2m (2018: net debt £21.4m)
- Reflecting reliable cash generation and conservative approach to gearing
