This year, £1.75m was spent in April 2023 on the share buyback programme, demonstrating CML Microsystems plc commitment to returning funds to shareholders and enhancing earnings where possible. Their board strives to maintain a progressive dividend policy whilst ensuring it has adequate cash to cover its growth objectives which currently include R&D investments, capital expenditure, working capital requirements and further payments in relation to the MwT acquisition. The interim dividend was held at 5p per share and, given the anticipated demands on cash through the year ahead, their board is recommending a final dividend of 6p per share, making the full-year dividend 11p per share (2023: 11p per share). Subject to shareholder approval, the shares will go ex-dividend on 15 August 2024 and the dividend will be paid to shareholders on 16 August 2024 whose names appear on the register at close of business on 2 August 2024.
Other financial highlights include:
- Revenues increased by 11% to £22.89m (FY23: £20.64m)
- Profit from operations of £1.94m (FY23: £2.93m pre-exceptional profit from the sale of excess land)
- Profit before taxation of £2.52m (FY23: £3.16m excluding exceptional item)
- Cash balances at period end of £18.21m (31 March 2023: net cash of £22.26m) following a share buyback of £1.75m, dividend payments of £1.74m and CapEx investments of £1.54m
