Ultra Electronics have announces a 2019 proposed final dividend of 39.2p (2018: 37.0p) per share which is proposed to be paid on 18 May 2020 to shareholders on the register at 24 April 2020 subject to approval at the Annual General Meeting. This will result in a final full year dividend of 54.2p (2018: 51.6p), which will be covered 2.2 times by underlying earnings per share.
Other financial highlights include:
Return to growth
o Robust revenue growth
o Profit, earnings and ROIC progression
o Average working capital turn improved by 12%, despite working capital normalisation
Transformation underway
o ONE Ultra strategy clarified, cultural change started
o Good Focus; Fix; Grow transformation progress
o Technology and infrastructure investment accelerating
Positive medium-term outlook
o Good momentum
o Healthy order book, up 10.7% organically, strong order cover of 71% (2019: 66%)
o Significant opportunities to drive enhanced growth and improve efficiency over time
