FY2019 Final Dividend to change to a Second Interim Dividend
In the FY2019 Final Results announcement released on 17 March 2020, the Company announced that the Directors were recommending a final dividend of 4.58p per share (2018: 3.98p), bringing the total dividend per share payable in respect of the year to 6.88p per share (2018: 5.98p), an increase of 15%, with the proposed final dividend to be paid on 4 June 2020 to shareholders on the register at 24 April 2020, with an ex-dividend date of 23 April 2020.
In light of the exceptional and continuing Global issues with Covid-19 and the UK Government's guidance in relation to the banning of gatherings and social distancing practice, the Board considers it prudent to plan to delay holding SMS's AGM until the second half of June 2020, with the precise date to be announced in due course.
As a result, instead of proposing a Final Dividend at the forthcoming AGM SMS announces it will pay a second interim cash dividend to shareholders of 4.58p per share. Accordingly, the total dividends proposed in respect of FY2019 remain unchanged at 6.88p per share. The second interim dividend will be paid on 4 June 2020 to shareholders on the register at 24 April 2020, with an ex-dividend date of 23 April 2020.
For further information:
Smart Metering Systems plc
Alan Foy, Chief Executive Officer
Dilip Kejriwal, Head of Investor Relations
0141 249 3850
Cenkos Securities plc (Nomad and Joint Broker)
Neil McDonald / Pete Lynch
0131 220 6939 / 020 7397 8900
Investec Bank plc (Joint Broker)
Christopher Baird / Henry Reast
020 7597 5970
Adrian Duffield / Kay Larsen / Chantal Woolcock
020 7457 2077
Notes to editors
SMS plc (www.sms-plc.com) installs and manages smart meters and carbon reduction assets ("CaRe") to facilitate effective energy management. Established in 1995, SMS provides a full end-to-end service for metering financing, installation, management and maintenance, with a highly skilled workforce and deep engineering expertise.
SMS had 3.73 million meter and data assets under management as of 31 December 2019. SMS's smart meter expertise also enables the Company to provide consultancy services that allow organisations and corporates to enhance long term efficiency and effectiveness in the management of energy.
SMS's energy management and asset installation services also include infrastructure design, installation, consultancy and project management services for new gas, electricity, water and telecoms connections for licensed energy and telecoms suppliers, end consumers and the UK's licensed electricity Distribution Network Owners (DNOs).
SMS employs in excess of 1,200 people across the UK who support the installation and ongoing management of metering assets.
SMS plc is headquartered in Glasgow with 12 locations across the UK.
SMS's shares are listed on AIM.