Record (REC)

Sector:

Financials

Index:

FTSE Small Cap

65.80p
   
  • Change Today:
    -2.20p
  • 52 Week High: 87.20
  • 52 Week Low: 58.00
  • Currency: UK Pounds
  • Shares Issued: 199.05m
  • Volume: 77,489
  • Market Cap: £130.98m

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Record jumps after declaring special divi, changes to payout policy

By Ikaba Koyi

Date: Sunday 18 Jun 2017

LONDON (ShareCast) - (ShareCast News) - Record posted double-digit growth in full-year revenues and earnings, which led management to boost its full-year dividend payout alongside a special payment for the full-year.


Company chairman Neil Record said: "This year, Record has reported its highest-ever assets under management equivalent, increased revenues and earnings, and further growth in revenue diversification, with revenues from Passive Hedging now covering all overheads excluding variable remuneration.

"[...] The Board has decided that conditions are now right for a change in our capital policy and is considering a return of approximately £10m of excess capital to shareholders, more details of which will be provided to the market shortly."

Record also highlighted the strength of the company's balance sheet, with consolidated net assets of £41.6m - and own cash of £29.2m - which he said was comfortably in excess of our regulatory capital requirements.

The specialist currency manager reported a 13% increase in revenues to £23.9m, which drove a 26% jump in profits before tax to £8.7m.

In underlying terms, profits were 13% ahead on the previous year to £7.9m.

Margins were also stronger, improving from 32% to 36% on an operating basis and from 33% to 34% in underlying terms.

Earnings per share improved from 2.55p to 2.91p.

The final dividend was set at 1.175p, for a full-year payout of 2.0p, up from 1.65p in 2016.

On top of that, Record declared a special dividend of 0.91p.

"For the current and future financial years, the Board intends to pursue a progressive dividend policy and to consider the return of excess earnings over ordinary dividends to shareholders, potentially in the form of special dividends.

"On this basis, such distributions to shareholders will be considered on a 'total distribution' basis, such that the total distribution for any one financial year will at least be covered by earnings, whilst always being subject to market conditions at the time, and to any further excess capital assessed as required by the Board."

Shares in the company finished the session 11.14% higher to 46.75p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Record Market Data

Currency UK Pounds
Share Price 65.80p
Change Today -2.20p
% Change -3.24 %
52 Week High 87.20
52 Week Low 58.00
Volume 77,489
Shares Issued 199.05m
Market Cap £130.98m

Record Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
9.66% above the market average9.66% above the market average9.66% above the market average9.66% above the market average9.66% above the market average
16.07% below the sector average16.07% below the sector average16.07% below the sector average16.07% below the sector average16.07% below the sector average
Price Trend
42.99% below the market average42.99% below the market average42.99% below the market average42.99% below the market average42.99% below the market average
36.21% below the sector average36.21% below the sector average36.21% below the sector average36.21% below the sector average36.21% below the sector average
Income
70.30% above the market average70.30% above the market average70.30% above the market average70.30% above the market average70.30% above the market average
35.29% above the sector average35.29% above the sector average35.29% above the sector average35.29% above the sector average35.29% above the sector average
Growth
18.09% below the market average18.09% below the market average18.09% below the market average18.09% below the market average18.09% below the market average
6.67% above the sector average6.67% above the sector average6.67% above the sector average6.67% above the sector average6.67% above the sector average

What The Brokers Say

Strong Buy 0
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 1
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Record Dividends

  Latest Previous
  Final Special
Ex-Div 11-Jul-24 11-Jul-24
Paid 02-Aug-24 02-Aug-24
Amount 2.45p 0.60p

Trades for 19-Jul-2024

Time Volume / Share Price
16:35 1,286 @ 65.80p
16:35 1 @ 65.80p
16:35 2 @ 65.80p
16:35 769 @ 65.80p
16:35 514 @ 65.80p

Record Key Personnel

CEO Jan Witte
CFO Richard Heading

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