In recognition of the strong balance sheet and confidence in the business, the Euromoney Board has decided to resume dividend payments and recommend a final dividend for the financial year 2020 of 11.4 pence per share. (2019: 22.3 pence per share). The dividend policy is to pay out approximately 40% of adjusted diluted earnings per share, subject to the capital needs of the business. This recommendation is subject to shareholder approval at the AGM on 11 February 2021 and, if approved, will be paid on 16 February 2021 to shareholders on the register at the close of business on 27 November 2020. The Board chose not to declare an interim dividend, so the total dividend for the year ended 30 September 2020 is 11.4 pence per share, (2019: 33.1 pence dividend).
Other financial highlights include:
Reduction in Group revenue reflecting covid-19 impact on events
Robust underlying subscriptions growth in Pricing and in Data & Market Intelligence ("DMI") +6% overall
Investment Research ("IRD") turnaround on track
Successful delivery of virtual events with good gross margins which protect market position and attract new customers
Active cost control while investing in future growth
Strong balance sheet with net cash of £28.1m as at 30 September 2020
Acquired attractive 3.0 businesses within People Intelligence (Wealth-X) and Pricing (AgriCensus)
3.0 Strategy unchanged, with clear priorities
