Smart Metering Systems PLC Dividend Declaration (6586I)

TIDMSMS

RNS Number : 6586I

Smart Metering Systems PLC

03 April 2020

Smart Metering Systems plc

("SMS" or "the Company")

FY2019 Final Dividend to change to a Second Interim Dividend

In the FY2019 Final Results announcement released on 17 March 2020, the Company announced that t he Directors were recommending a final dividend of 4.58p per share (2018: 3.98p), bringing the total dividend per share payable in respect of the year to 6.88p per share (2018: 5.98p), an increase of 15%, with the proposed final dividend to be paid on 4 June 2020 to shareholders on the register at 24 April 2020, with an ex-dividend date of 23 April 2020.

In light of the exceptional and continuing Global issues with Covid-19 and the UK Government's guidance in relation to the banning of gatherings and social distancing practice, the Board considers it prudent to plan to delay holding SMS's AGM until the second half of June 2020, with the precise date to be announced in due course.

As a result, instead of proposing a Final Dividend at the forthcoming AGM SMS announces it will pay a second interim cash dividend to shareholders of 4.58p per share. Accordingly, the total dividends proposed in respect of FY2019 remain unchanged at 6.88p per share. The second interim dividend will be paid on 4 June 2020 to shareholders on the register at 24 April 2020, with an ex-dividend date of 23 April 2020.

For further information:

 
  Smart Metering Systems plc                      0141 249 3850 
  Alan Foy, Chief Executive Officer 
  Dilip Kejriwal, Head of Investor 
   Relations 
 
  Cenkos Securities plc (Nomad and     0131 220 6939 / 020 7397 
   Joint Broker)                                           8900 
  Neil McDonald / Pete Lynch 
 
  Investec Bank plc (Joint Broker)                020 7597 5970 
  Christopher Baird / Henry Reast 
 
  Instinctif Partners                             020 7457 2077 
  Adrian Duffield / Kay Larsen / 
   Chantal Woolcock

Notes to editors

SMS plc (www.sms-plc.com) installs and manages smart meters and carbon reduction assets ("CaRe") to facilitate effective energy management. Established in 1995, SMS provides a full end-to-end service for metering financing, installation, management and maintenance, with a highly skilled workforce and deep engineering expertise.

SMS had 3.73 million meter and data assets under management as of 31 December 2019. SMS's smart meter expertise also enables the Company to provide consultancy services that allow organisations and corporates to enhance long term efficiency and effectiveness in the management of energy.

SMS's energy management and asset installation services also include infrastructure design, installation, consultancy and project management services for new gas, electricity, water and telecoms connections for licensed energy and telecoms suppliers, end consumers and the UK's licensed electricity Distribution Network Owners (DNOs).

SMS employs in excess of 1,200 people across the UK who support the installation and ongoing management of metering assets.

SMS plc is headquartered in Glasgow with 12 locations across the UK.

SMS's shares are listed on AIM.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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