Coronavirus impact: 11 May - news of a big dividend increase
Heightened stock market volatility continues to be a boon for stock brokers and there was news of another significant dividend increase from one AIM company. The share price strength of several small caps covered here is remarkable given the questionable outlook, but several are proving to be surprisingly essential.
Cerillion: reliably expensiveBilling software solutions provider Cerillion (LON:CER) is starting to deliver on its considerable promise, befitting its high rating. Interim results for the six months ending 31 March 2020 saw revenue rise 46% to £10.2m with annualised recurring revenue up 20% to £6.06m. Adjusted profit before tax rose to £1.7m from the prior period’s loss and the back order book of £24.2m offers plenty of visibility. Net cash generated from operations rose to £1.8m boosting year end net cash to £4.8m which meant the group was able to commit to an increased interim dividend, up 9% to 1.75p. Major…