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AdEPT ticks up on plans to hike dividend in full year

The telecoms provider said that it planned to increase its final dividend to 4.9p per share from 4.5p in 2018, taking the full dividend for the year 12% higher to 9.8p

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Net senior debt had also come in £800,000 lower than the market had expected at £27.2mln

AdEPT Technology Group PLC (LON:ADT) shares moved up in early deals on Wednesday after it said it will increase its final dividend in its upcoming results for the year ended 31 March 2019.

The telecoms and IT provider said in a trading update that it planned to increase its final dividend to 4.9p per share from 4.5p the year before, taking the full dividend for the year 12% higher to 9.8p.

READ: AdEPT founder and CEO to step aside and move into role of chairman

The company added that revenues were expected to increase with underlying EBITDA to rise 13% year-on-year, in line with expectations.

Net senior debt had also come in £800,000 lower than the market had expected at £27.2mln, partly as a result of research and development tax credits from HMRC.

AdEPT also said the integration of its two acquisitions in the year, Shift F7 and ETS Communications, which were acquired in August and November respectively had been integrated into the business but would only make partial contributions in the year just ended.

Meanwhile, Atomwide, which AdEPT acquired in August 2017, had received a performance-related earnout of £1.5mln in October.

The company added that the integration of ETS had generated £200,000 in synergy savings which would be used to create a new ‘One AdEPT’ brand.

AdEPT is due to release its full-year results in early July.

Shares were up 1% at 333.5p.

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Quick facts: AdEPT Technology Group PLC

Price: 234 GBX

LSE:ADT
Market: LSE
Market Cap: £58.57 m
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