The Quartix Technologies Plc Board is recommending a final ordinary dividend of 3.00p per share, with no supplementary dividend, giving a total dividend for the year of 4.50p per share, subject to shareholder approval. Whilst this is higher than that which would be paid under the Company's dividend policy, the reduction in free cash flow in 2024 was caused principally by the costs of Konetik and the 4G upgrade programme in France, both of which are temporary in nature, and hence the Board considers the additional quantum to be appropriate.
The final dividend amounts to approximately £1.5m in aggregate. Subject to the approval at the forthcoming AGM, this dividend of 3.00p per share will be paid on 30 April 2025 to shareholders on the register as at 4 April 2025. The ex-dividend date is therefore 3 April 2025.
Other financial highlights include:
Group revenue increased by 8% to £32.4m (2023: £29.9m)
Adjusted EBITDA increased by 21% £6.5m (2023: £5.4m)
Adjusted profit before tax increased by 25% to £6.3m (2023: £5.1m)
Profit for the year was £4.8m (2023: (Statutory Loss) £0.9m)
Adjusted diluted earnings per share increased to 9.78p (2023: 8.75p)
Free cash flow increased by 99% to £2.6m (2023: £1.3m).
