PayPoint faces change, but we remain fans
Payment processing company PayPoint is a member of our Income Boosters portfolio. This business has a UK network of 26,800 retailers, which use its terminals for payment processing and a range of other services.
PayPoint's (LON: PAY) latest results cover the period to 31 March and confirm that the business traded well last year. Revenue rose by 0.8% to £213.3m, while pre-tax profit was 3.8% higher, at £56.8m. Shareholders will receive a final dividend of 15.6p per share, down from 23.6p for the same period last year.
Recently-confirmed CEO Nick Wiles is sensibly adopting a dividend cover policy of 1.2x-1.5x earnings. Taking the mid-point of this range suggests to…
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