Daisy Group on track, eyes maiden dividend
Shares of aim-listed business communications provider Daisy Group surged after it said full year revenues and adjusted EBITDA are expected to be in line with market expectations and it expects to announce its first dividend payment.
Shares of aim-listed business communications provider Daisy Group surged after it said full year revenues and adjusted EBITDA are expected to be in line with market expectations and it expects to announce its first dividend payment.
The group said free cash flow generation for the year ended March 31 2013 has been strong and is expected to be materially ahead of current market expectations. As a result, net debt will be at the low end of the current market range.
The board intends to declare a maiden dividend of 4.0p per ordinary share at its preliminary results in June.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Chief Executive Officer Matthew Riley said: "Though trading trends have continued as highlighted at the interim results, we are pleased to report this is balanced with improved revenue mix, product diversification and strong cash flow generation."
"Our recently announced new £200m banking facility enables us to continue to review acquisition opportunities alongside the implementation of the progressive dividend policy."
CJ
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Skipton launches a retirement bond with monthly income – is it any good?
The building society has launched a new three-year fixed-rate bond for those aged 66 and over. Can it boost your retirement income?
By Katie Williams Published
-
Pensions: 140,000 pensioners to be hit by surprise tax demand
Tens of thousands of pensioners will be written to over the summer because their pensions have gone above the frozen income tax thresholds
By Chris Newlands Published