Softcat PLC (LON:SCT) said it is planning to resume normal dividend payments later this year after trading in its latest full-year delivered operating profits that were “slightly ahead” of its expectations.
In an update for the year ended July 31, the IT firm said it had “continued to trade satisfactorily” in the final three months of the year and that cash generation had also remained strong.
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The restored dividend payments will include the company’s interim payment, which was cancelled in March, although Softcat said the resumption of payouts to investors will be dependent on there being “no material adverse movement in prevailing conditions” between now and the publication of its full-year results on October 20.
"Our performance during the year is a great credit to the team at Softcat and on behalf of the Board I would like to thank them for their exceptional agility. The support they have shown to each other, our customers and our partners continues to be a key feature of our business. Their commitment, alongside the breadth of our technology offering and customer base, provided a strong foundation for our performance in the second half”, said Softcat chief executive Graeme Watt, adding that the company had maintained its staffing levels and not furloughed anyone during the period.