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AdEPT Telecom whacks up interim dividend

The AGM did not reveal too many numbers about trading in the first half of the year, but a 13.3% rise in the dividend gave a big clue
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The interims should be released on 14 November

AdEPT Telecom PLC (LON:ADT) is to hike its interim dividend by 13.3% to 3.75p.

In a statement released ahead of the information technology firm's annual general meeting (AGM), the company said the increase in the dividend was an indicator of the board's confidence in current trading.

READ: AdEPT's Ian Fishwick 'over the moon' with transformational Atomwide acquisition

Chairman Roger Wilson was set to tell shareholders at the AGM that Comms Group, acquired in May 2016, met its performance targets in the 12-month performance-based earn-out period to 31 May 2017, as a result of which, the vendors hit the maximum earn-out of £3.5mln.

Atomwide, which was acquired in August of this year, made a profit before tax of £1.9mln on revenue of £7.5mln in the year to 31 March 2017; this obviously will not feed through to AdEPT's profit & loss but bodes well for the business's contribution to the current financial year, which runs to the end of March 2018.

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