Following an encouraging performance in 2019, the Rentokil Intial Board is recommending a final dividend in respect of 2019 of 3.64p per share, payable to shareholders on the register at the close of business on 14 April 2020, to be paid on 20 May 2020. This equates to a full year dividend of 5.15p per share, an increase of 15.2% compared to 2018. The last day for DRIP elections is 28 April 2020.
Other financial highlights include:
●Revenue, profit and cash in excess of medium-term targets: Ongoing Revenue up 8.6%, Organic Revenue up 4.5%, Ongoing Operating Profit up 10.5% and Free Cash Flow conversion of 98.6%
●10.8% Ongoing Revenue growth in Pest Control (4.9% Organic), driven by strong innovation and digital performance
●5.8% Ongoing Revenue growth in Hygiene (4.3% Organic), reflecting very good results in UK, Europe and Pacific and ongoing contributions from acquisitions
●3.5% Ongoing Revenue growth in Protect & Enhance (3.2% Organic), due to improved performance from France Workwear, Ambius and UK Property Care
●20 basis points improvement in Group Net Operating Margin at 13.8%, 50 basis points improvement in North America margins at 14.2%
●Free Cash Flow of £250.7m, a £58.7m increase on the prior year and representing 98.6% conversion
●30 bps improvement in customer retention at 86.2%, (50 basis points improvement in Pest Control at 84.7%), 3.7% improvement in colleague retention at 86.9%
