Ordinary shareholders will receive 5p per share
Abbey Protection is to pay a special dividend of 5p per ordinary share. The dividend will be payable to all ordinary shareholders as at 31 May and will be paid on 21 June. The total amount paid out by the insurance and consultancy group will total £5m.
In a statement released today Abbey Protection said: “The board is committed to generating attractive and sustainable financial returns for shareholders and follows a progressive ordinary dividend policy. The group’s balance sheet and cash generation remain strong, with no debt funding obligations to service.
“While the economic outlook remains difficult to predict with any certainty, the board believes that the group has more than adequate resources to fund future investment in the business, to sustain growth in ordinary dividends and to fund bolt-on acquisitions from remaining cash balances and future free cash flow.”
Shore Capital analyst Eamonn Flanagan said: “The prospects for the group remain strong, in particular from: continued growth in the tax unit; stabilisation of Ibex’s loss ratios and from product innovation.
“In the meantime, the granting of an alternative business structure licence and subsequent acquisition of law firm Lewis Hymanson, offers the legal unit the opportunity to provide a wider range of legal services to its own SME and also larger clients.”
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