The Melrose Industries Plc Board is proposing a final dividend for 2021 of 1.0 pence per share (2020: 0.75 pence). Combined with the 2021 interim dividend of 0.75 pence per share, this represents a total dividend for the year of 1.75 pence per share (2020: 0.75 pence). The final dividend will be paid on 20 May 2022 to those shareholders on the register at 8 April 2022, subject to approval at the Annual General Meeting ("AGM") on 5 May 2022.
Other financial highlights include:
The statutory operating loss was £451 million; of the £826 million adjusting items, only £200 million were cash items, almost all relating to restructuring projects
Generated free cash flow of £125 million in the year, prior to disposal proceeds, with net debt reduced to £0.95 billion and leverage to 1.3x adjusted EBITDA
The opening net debt of £3.4 billion at the GKN acquisition has been fully repaid in less than four years
