The Vesuvius Plc Board has recommended a final dividend of 15.0 pence, bringing the total dividend for the year to 21.2 pence per share, which is a 22% increase on the total dividend for 2020 of 17.4 pence per share. If approved at the Annual General Meeting on 18 May 2022, the final dividend will be paid on 27 May 2022 to shareholders on the register at the close of business on 19 April 2022.
Other financial highlights include:
Revenue of £1,642.9m, an increase of 18% on an underlying basis, reflecting general market recovery and market share gains in the Flow Control and Foundry divisions, where sales increased on an underlying basis by 21% and 20%, respectively
Trade working capital/sales improved to 20.9% (12m average), versus 23.2% in 2020
Net debt/EBITDA of 1.4x at 31 December 2021, despite acquisition of Universal Refractories
