The Avon Protection Board is recommending a final dividend of 30.6 cents per share (2020: 23.5 cents) which together with the 14.3 cents per share interim dividend gives a total dividend of 44.9 cents (2020: 34.5 cents), up 30% on last year. The final dividend will be paid in pounds sterling on 11 March 2022 to shareholders on the register at 11 February 2022 with an ex-dividend date of 10 February 2022. The final dividend will be converted into pounds sterling for payment at the prevailing exchange rate immediately prior to payment.
Other financial highlights include:
Cash conversion of 83.2% reflects tight control of receivables and payables in the fourth quarter, offsetting higher inventory to manage COVID related supply chain disruption
Net debt excluding lease liabilities of $26.8 million represents leverage of less than 1 times adjusted EBITDA
Strong liquidity with $200 million Revolving Credit Facility of which $40.9 million utilised at 30 September
