Cashfac PLC announces its first dividend payment
Cashfac PLC announces its first dividend payment to shareholders – 1p per share. The dividend reflects our profitability in 2012 as well as Cashfac’s on-going strength in its cash performance, and the confidence of the Board in the prospects for the business.
Despite being affected by Santander’s decision not to proceed in the purchase of part of RBS’s business, Cashfac consolidated its position in the 6 months to March 31st 2013, achieving growth of 15% in recurring revenues and an increase in cash. Recurring revenues from long term contracts cover over 70% of all Cashfac’s on-going operational costs.
Paul Ormrod (Founder and CEO) said: “The first dividend is an important event for any technology business, and a deserved reward for shareholders. We continue our focus on building our recurring revenues especially through investment in new product and service support for our bank partners.”