Begbies Traynor Group is pleased to recommend (subject to shareholder approval at the company's annual general meeting scheduled for 19 September 2023) a 9% increase in the total dividend for the year to 3.8p (2022: 3.5p), representing its sixth consecutive year of dividend growth. This comprises the interim dividend already paid of 1.2p (2022: 1.1p) and a proposed final dividend of 2.6p (2022: 2.4p).
The final dividend will be paid on 3 November 2023 to shareholders on the register on 6 October 2023, with an ex-dividend date of 5 October 2023.
Other financial highlights:
Revenue growth of 11% (6% organic, 5% acquired) reflected continued execution of itsstrategy to grow the business
Enhanced operating margins of 17.9% (2022: 16.9%)
Double-digit revenue and profit growth across both operating divisions derived from:
o increased insolvency appointments and enhanced reputation for mid-market insolvencies
o contribution from acquisitions in finance broking and property advisory
o organic growth from property service lines, reflecting the resilient nature of its services in a challenging marketplace
Substantial free cash flow generation of £14.1m; ended year with net cash of £3.0m (2022: £4.7m), having made £10.6m of acquisition and deferred consideration payments and paid dividends of £5.4m
Recommended 9% increase in the total dividend for the year to 3.8p (2022: 3.5p), the sixth consecutive year of dividend growth, reflecting Begbies Traynor's board's confidence in the group's financial position and prospects
