JTC plc to propose a final dividend of 7.67p, resulting in a 2023 dividend per share of 11.17p (2022: 9.98p) which was a 11.9% increase on prior year. This remains consistent with their dividend policy to declare at 30% of adjusted underlying EPS.
Subject to Shareholders' approval at the forthcoming AGM, the final dividend will be paid on 28 June 2024 to Shareholders on the register of members as at close of business on 31 May 2024.
Other Financial Information Includes:
- Revenue +28.7%, driven by record net organic growth of 19.9% (2022: 12.0%)
- Underlying EBITDA +30.1% to £85.9m (2022: £66.0m) with an improvement in underlying EBITDA margin to 33.4% (2022: 33.0%)
- New business wins +25.2% to a record £30.8m (2022: £24.6m)
- Significant reduction in client attrition to 5.1% (2022: 6.4%)
- Underlying cash conversion of 106% (2022: 91%) resulting in leverage of 1.43x underlying EBITDA at period end
- Increased debt facility of £400m at period end to support delivery of Cosmos era business plan
