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Spirent revenue up 4% and special dividend announced
StockMarketWire.com
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Revenue at Spirent Communications was up 4% in 2020, boosted by strong demand for both lab and live assurance solutions and our new 5G device testing solutions and services.
Adjusted operating profit increased by 11 per cent to $103.5 million, with adjusted operating margin improving to 19.8 per cent, up from 18.4 per cent in 2019.
The company said it had continued investing in research and development across the portfolio during the period to the tune of $103 million, 20 per cent of revenue.
It confirmed a 12 per cent increase in the full year dividend. A final dividend of 3.87 cents per share is to be paid in April 2021.
A special dividend of 7.50 cents per share, representing a total cash payment of $45 million, will also be made in April 2021 with $4.5 million extra funding to the pension scheme (subject to exchange rate movements).
Eric Updyke, CEO at Spirent Communications, said: 'We enter 2021 in a position of strength. Earlier this month, we commenced our targeted M&A activity adding octoScope to our portfolio, firmly establishing Spirent as the Wi-Fi-test leader and strengthening our 5G portfolio.'
Story provided by StockMarketWire.com
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