Law Denture have declared a 2022 full year dividend increased by 5.2% to 30.5 pence per Ordinary Share (2021: 29.0 pence per Ordinary Share).
Dividend yield of 3.7% (based on their closing share price of 827 pence on 24 February 2023), proposed Q4 dividend of 8.75 pence per Ordinary Share.
Other financial highlights include:
Share price total return marginally outperformed the FTSE Actuaries All-Share Index with a total return of 0.4% for 2022.
NAV total return with debt and Independent Professional Services ("IPS") business at fair value for FY 2022 of 0.6% (-6.8% with debt at par).
Another period of consistent performance from IPS with net revenue increasing by 8.6%, profit before tax up by 8.1% and valuation up 18.7% to a record £201.7 million.
The Company issued 5.2 million new Ordinary Shares at a premium to NAV during 2022, to existing and new investors, with net proceeds of £41.4 million to support ongoing investment.
Continued low ongoing charges of 0.49%, compared to the industry average of 1.04%2.
