Dividend Policy & History
The Board intends to adopt a dividend policy appropriate to the Company’s financial performance. This will take into account its ability to operate and grow, the need to retain a prudent level of cash resources and the Board will have regard to the availability of distributable reserves.
The Company paid a maiden dividend of 1 penny per share for the year ended 31 March 2012, a dividend of 2 pence per share for the year ended 31 March 2013, a dividend of 3 pence per share for the year ended 31 March 2014, a dividend of 4 pence per share for the year ended 31 March 2015 and a dividend of 4.4 pence for the year ended 31 March 2016.
Following on from the announcement on 26th May 2017, the Board have decided to suspend dividend payments for at least the next two scheduled payments - the final dividend for FY16-17 and the interim dividend for FY17-18. It is intended that the cash saving will be re-invested into the business, alongside certain of the net proceeds of the Placing.