(Sharecast News) - Media technology company Amino Technologies turned in a "resilient" performance on Tuesday, leading the group to institute a new dividend policy.
Amino said all key metrics were expected to have tracked higher in 2020 than in the prior year, with total revenues pegged to be up roughly 8% at $83.0m and adjusted operating profits projected to be "slightly ahead" of 2019.
Higher margin software revenues surged roughly 50% year-on-year to $20.0m, helping Amino grow its net cash position from $1.4m a year ago to $9.4m at the end of November, with no debt.
The AIM-listed group said that as a result of it having "successfully navigated the Covid-19 pandemic's challenges", its new dividend policy was targeted at delivering income returns to shareholders through the payment of an annual full-year dividend of between 33% and 50% of adjusted annual earnings per share.
Chief executive Donald McGarve said: "Despite the impact of Covid-19 we maintained our previous financial guidance throughout the year and expect to report all key performance metrics ahead of 2019.
"We enter the new financial year with enhanced visibility and quality of earnings and a clear strategy to enable the structural shifts in the TV market through innovative software with the aim of delivering significant revenue and profit growth over the medium term."
As of 1145 GMT, Amino shares were up 6.09% at 122.0p.
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