The Spirax-Sarco Engineering plc Board is recommending an increase in the final dividend of 15% to 97.5 pence per share (2020: 84.5 pence). Subject to approval of the final dividend by shareholders at the Annual General Meeting on 11th May 2022, the total Ordinary dividend for the year will be 136.0 pence per share, an increase of 15% over the 118.0 pence per share for the prior year.
Other financial highlights include:
Revenues up 13%, or 17% organically; industrial production growth (IP) 7.6%
Record adjusted operating profit margin of 25.3%, up 260 bps or 300 bps on a statutory basis
Net debt reduced to 0.35x EBITDA despite record capital investment
