Investors in recently-listed international firm DWF can expect to receive a bumper £3m full-year dividend in September, the company has stated.
In a trading statement to the London Stock Exchange today, DWF said it expects revenue for the financial year ending 30 April 2019 to be at least 15% up on the previous year.
Revenue from its global businesses will have increased by more than 70%, with each of its divisions growing in line with medium term targets, the statement said.
DWF Group did not disclose expected profit figures, but said they will be ‘in line with management’s expectations leading to good profit growth’ year on year.
DWF expects to pay a dividend of £3m, subject to shareholder approval, with further dividends thereafter in line with the stated dividend policy.
The firm said its year-end net debt of £35.1m is in line with management expectations, with overall lockup expected to reduce next year by between five and 10 days.
DWF, which floated on the main London Stock Exchange market in March this year, described its start to the new financial year as ‘solid’, with the likelihood of bolt-on acquisition opportunities.
Andrew Leaitherland, chief executive, said: ‘This has been another year of strong financial performance across our business, including good organic growth rates in our insurance and commercial services divisions and double-digit growth in connected services and International, providing a firm foundation on which to begin life as a public company.’
The announcement left DWF Group's share price unchanged.