The Gamma Communications Board is proposing a final dividend of 11.4p (2022: 10.0p). This is an increase of 14% and is in line with their progressive dividend policy. Subject to shareholder approval, the final dividend is payable on Thursday 20 June 2024 to shareholders on the register on Friday 31 May 2024.
Strong financial performance with growth in all business units and strong cash position.
Other financial highlights include:
Three acquisitions completed: Satisnet, in August 2023, a leading provider of cyber security services and solutions; EnableX Group, in December 2023, giving us a relationship with Ericsson-LG and access to their UCaaS solution, iPECS; and Coolwave Communications, in February 2024, an international SMS and voice services provider allowing them to provide Operator Connect and other carrier services into nearly 20 countries.
Through these acquisitions and strengthening existing partnerships they intend to have a full UCaaS portfolio with their in-house developed product, PhoneLine+ for micro-businesses, Horizon and iPECS for SMEs, and a Cisco suite for larger SME and Enterprises customers. Most of these can be integrated with Teams.
After applying the Board's capital allocation framework they are announcing an intention to launch a share buyback programme of £35m to be executed over the next six months, until early September.
