On 11 February 2019, Dicker Data Limited (ASX: DDR) announced that a fully franked final dividend for the FY18 has been declared at 7.0 cents per share. The record date would be Friday 15 February 2019 with payment date as 1 March 2019, Friday. With the 3 interim dividends paid during 2018, this would bring total dividend to be paid for the FY18 year to 20.20 cents per share. It is an increase of 3.4 cents per share or 20.2% from FY17.
The increase in the final dividend is partly attributed to the tax refund received during FY18, that had previously been provisioned for in the year 2017 results, as disclosed in its Interim Financial Report. The audited Appendix 4E and Annual Report for FY18 is expected to be released on 28th February 2019 where full details of the FY18 results would be provided.
On 29 January 2019, the Board of Dicker Data published the unaudited results for the financial year ended 31 December 2018.
The revenue for the year finalised just short of $1.5b, a rise of more than 14% in comparison to last year. This was partly because of realising the full value of new vendors introduced during 2017, new vendors being introduced in 2018 and strong performance with existing vendors. The profit before tax was anticipated to finalise at $46m, a rise of 15% from the comparative period last year, surpassing the guidance by over 8%.
On 27 August 2018, DDR published its interim financial report ended 30 June 2018. The 6 months to June 2018 had seen DDR increasing its revenue at a rate of 13.5% via an increase in both established and new vendors. Profit margins were tracking slightly lower to the comparative period last year at 8.9%. The net profit before tax was finalised stood at $21.4m, up 9.9%. Tax expense in the previous 6 months included a credit for the remission of a franking deficit amount which was provisioned for in FY17 accounts.
DDR continued to offer participation in the Dividend Reinvestment Plan in the reporting period. Of the entire $14.8m dividends paid in the period, $14.4m was paid as cash dividends, and $348k participated in the DRP.
The revenue for the half year to 30 June 2018 was $717.6m (Jun17: $632.5m), up by $85.1m (+13.5%) on the previous corresponding period. Throughout FY17 and YTD FY18, there were 18 new vendors on-boarded, and the new vendors had contributed an increase of $35.8m to revenue on year on year basis in H1 2018. Revenue for existing vendors had grown $48.8m (+7.9%) on the previous corresponding period.
Total gross profit was $63.6m (Jun17: $57.1m), an increase of $6.5m or 11.4%. DDR’s profit margins had remained stable at that period at 8.9%, tracking slightly under from FY17 levels at 9.0% due to market competition.
Total assets as at 30 June 2018 rose to $436.6m (Dec17: $384.3m). Total Liabilities were $359.9m up $50.5m from the prior period (Dec17: $309.4m). Cash finalised at $6.2m down by $3.2m (Dec17: $9.4m). The statement of financial position reflected increased investment in working capital over the previous period, was $27.7m higher.
The stock of the company is currently trading at A$3.120, up by 2.295% or 0.070 points, with the close of trading session on 11 February 2019.
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