The Qinetiq Group Board proposes a final FY24 dividend per share of 5.65p (FY23: 5.30p) making the full-year dividend 8.25p (FY23: 7.70p). The full-year dividend represents an increase in the Group's progressive dividend from 5% to 7%.
Subject to approval at the Annual General Meeting, the final FY24 dividend will be paid on 22nd August 2024 to shareholders on the register at 26th July 2024.
Other financial highlights include:
-Revenue up 21% through good programme execution, up 14% on an organic basis
-Underlying operating profit up 20% with stable margin at 11.3%, up 16% on an organic basis
-Cash performance remains strong with high conversion at 104%, reducing leverage to 0.5x
-Record order intake at £1.74bn, with a book-to-bill of 1.1x3 and order backlog of £2.9bn
-Continued strong earnings growth, with underlying EPS up 11% to 29.4p
-£100m share buyback launched, on-track to complete by the end of FY25
