The Keywords Board is to recommend a final dividend of 1.76p per share (2022: 1.60p) representing an increase of 10% on the 2022 final dividend. Together with the interim dividend of 0.85p this will bring the total dividend to 2.61p (2022: 2.37p).
Payments will be made on 28 June 2024 to shareholders on the register on 24 May 2024 and the shares will go ex-dividend on 23 May 2024. The final dividend payment will represent a total cost of approximately €1.6m of cash resources. Link Market Services Trustees Limited (Link) operates a Dividend Reinvestment Plan (DRIP) for the Group's shareholders and instructions for shareholders on how to apply for the DRIP will be included in communications regarding the dividend, and any queries regarding the DRIP should be directed to Link.
Other financial highlights include:
Full year revenue growth of 13% to €780m (2022: €691m), 17% on a constant currency basis, driven by robust organic growth and acquisitions.
Organic revenue growth, excluding impact of US strikes and FX, of ~9% (6% on a reported basis).
Adjusted operating profit rose 6% to €122m (2022: €115m), with margin of 15.6%, ahead of guidance (2022: 16.6%), reflecting good cost control.
Good Adjusted free cash flow6 of €94m (2022: €112m) was driven by strong H2 cash generation, with Adjusted cash conversion of 82%, in line with guidance.
Net debt of €68m (2022: net cash of €82m) primarily reflecting another year of strong acquisition activity.
