The MTi Wireless Edge Board is to declare a final dividend of US$0.031 per share representing a 3% increase on the previous year (2023: US$0.03). The dividend will be paid on 11 April 2024 to shareholders on the register at the close of trading on 22 March 2024 (ex-dividend on 21 March 2024). The currency translation into British Pounds will be made on 25 March 2024 and there will not be a scrip dividend alternative.
Other financial highlights include:
Revenue of US$45.6m (2022: US$46.3m) on a constant currency basis, this represents an increase of 2% over last year
Profit from operations increased 1% to US$4.65m (2022: US$4.59m), including US$0.2m impairment of goodwill related to the acquisition of PSK
Profit before tax increased 12% to US$4.84m (2022: US$4.32m)
Earnings per share increased by 9% to 4.58 US cents (2022: 4.21 US cents)
A 2% increase in adjusted EBITDA to US$6.16m (2022: US$6.06m), helped by the economies of scale from the increasing size of the Group
Net cash of US$8.1m at 31 December 2023 (31 December 2022: US$8.1m)
Expansion of buyback programme effective from 12 March 2024 until March 2025 with increased funding from £200K to a maximum of £700K
