The Ashtead Board is recommending a final dividend of 85.0¢ per share (2022: 67.5¢) making 100.0¢ for the year (2022: 80.0¢), an increase of 25%. If approved at the forthcoming Annual General Meeting, the final dividend will be paid on 12 September 2023 to shareholders on the register on 11 August 2023.
The dividend is declared in US dollars but will be paid in sterling unless shareholders elect to receive their dividend in US dollars.
Other financial highlights include:
Record performance with ongoing momentum in robust end markets
Group revenue up 24%; US rental revenue up 24%
Adjusted earnings per share increased 27% to 388.5¢ (2022: 307.1¢)
165 locations added in North America
$3.8bn of capital invested in the business (2022: $2.4bn)
$1.1bn spent on 50 bolt-on acquisitions (2022: $1.3bn)
Net debt to EBITDA leverage of 1.6 times (2022: 1.5 times)
