1PM PLC Progressive Dividend Policy declared (8975V)
July 26 2018 - 7:00AM
UK Regulatory
TIDMOPM
RNS Number : 8975V
1PM PLC
26 July 2018
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
26 July 2018
1pm plc
(the "Group" or the "Company")
New Enhanced Dividend Policy
1pm plc, the AIM listed alternative finance provider, is pleased
to announce details of an enhanced, progressive dividend policy
ahead of its final results for the year ended 31 May 2018,
scheduled to be published during the week commencing 10 September
2018.
As was reported in its trading update for the year ended 31 May
2018, announced on 27 June 2018, the Group's trading remains
strong. Given the increased scale and stability of the enlarged
Group created by the successful integration of recent acquisitions,
forward visibility of earnings, improved margins and lower
operational risk, the directors now consider that it will be
appropriate to recommend an increased dividend for the year ended
31 May 2018 and progressive increases for each of the years ending
31 May 2019, 2020 and 2021.
The directors will therefore recommend a final dividend for the
year ended 31 May 2018 of 0.65p per share, which is a 30% increase
over the previous year. Thereafter, the board will continue to
recommend a 30% annual increase in dividends during the three-year
period ending 31 May 2021. The board intends to declare a one-third
interim dividend to be paid in April and to recommend a two-thirds
final dividend to be paid in October each year. Associated record
dates and payment dates for the final dividend will be announced in
due course and are expected to follow a similar timetable to the
payment of last year's final dividend.
Ian Smith, CEO, commented:
"The 1pm management team and employees are grateful for the
support of shareholders during the recent expansion phase and the
intent is to progressively reward them as the business continues to
develop and prosper."
For further information,
please contact:
1pm plc
Ian Smith, Chief Executive
Officer 01225 474230
James Roberts, Chief Financial
Officer 01225 474230
Cenkos (NOMAD)
Max Hartley, Julian Morse
(Sales) 0207 397 8900
Walbrook PR 0117 985 8989
Paul Vann 07768 807631
paul.vann@walbrookpr.com
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END
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