The IP Group Board remains committed to delivering a regular dividend income, which is intended to comprise a relatively small component of total shareholder return and will also continue to consider share buyback programmes and other capital return tools as realisations are generated from their portfolio. Accordingly, the Board has recommended a final dividend of 0.76p per share (2021: 0.72pps), to be approved at the Company's forthcoming AGM, which would represent a total dividend for 2022 of 1.26p (2021: 1.20pps).
Other financial highlights include:
Strong balance sheet and liquidity to support new and follow-on investment in the portfolio with gross cash and deposits at 31 December 2022 of £241.5m (2021: £321.9m); total potential liquidity (including quoted shares and undrawn debt) of over £500m
Loss in the period of £344.5m (2021: profit of £449.3m). Driven primarily by a reduction in the value of their public companies of £428.5m and in the value of ONT in particular, which reduced by £369.7m
Portfolio companies well-funded; total funds raised by portfolio £1.0bn (2021: £2.4bn)
Private portfolio company valuations remained robust with 90% of their portfolio funding rounds in 2022 taking place at or above previous funding round valuations
