The Diploma plc Board has recommended a final dividend of 42.0p per share (2023: 40.0p), making the proposed full year dividend 59.3p (2023: 56.5p), up 5%, in line with the Board's dividend policy.
The final dividend for FY24 is subject to approval by shareholders at the Annual General Meeting on 15 January 2025 and, if approved, will be paid on 31 January 2025 to shareholders on the register at 17 January 2025. Shares will trade ex-dividend from 16 January 2025.
Other financial highlights include:
●Strong, volume-led organic revenue growth of 6%.
●Reported revenue growth of 14%: 10% from acquisitions, partially offset by FX.
●Adjusted operating margin up 120 basis points to 20.9%, reflecting their value-add proposition; operational leverage; disciplined cost management; and accretive acquisitions.
●Highly effective capital allocation: £293m invested in seven quality businesses at 6x EBIT. Disposal of three non-core business entities after the year end for £45m at 7x EBIT.
●Excellent return on capital across the Group with ROATCE up 100 basis points to 19.1%.
●Strong free cash flow conversion of 101% reflecting disciplined working capital management.
