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“Bikes” oh I didn’t know that, you would have thought they would do better considering how long they have been in business. Hopefully they will learn for this year, it’s not often everything falls into place to make cycling centre stage, surely this year profits will exceed the +20% from last year
Revenue up 20% to £38,837,000 previous year, imagine how this year will shape up if we are all cycling to work, having U.K. holidays and being ordered to cycle by our GPs !
Remember TND supply bikes to many U.K. suppliers such as Halfords and Argos as well as direct to customer
Dividend
As the Group moves into an ongoing net cash position and after a strong year in 2019, the Board believes that there is additional capacity to increase the dividend.
In accordance with our ongoing progressive policy, we are proposing to pay a final dividend of 3.04 pence per share (year ended 31 December 2018 - 2.89 pence per share).
In addition, we are proposing a special dividend of 2.00 pence per share (year ended 31 December 2018 - nil).
When combined with the interim dividend of 1.56 pence per share (year ended 31 December 2018 - 1.42 pence per share), this is a total dividend of 6.60 pence for the year (year ended 31 December 2018 - 4.31 pence per share) which represents an increase of over 53%.
Our dividend policy remains progressive, paying an increasing dividend as trading results and funds permit. Moreover, we will review the capacity each year to pay a special dividend where profits are materially ahead of the prior year.
Subject to shareholder approval at the Annual General Meeting to be held on 25 June 2020, the final and special dividends will be paid on or around 2 July 2020 to shareholders on the share register as at 15 May 2020. The ex-dividend date will be 14 May 2020.