Micro Focus’ reports result on a semi-annual basis with interim results for the six months ended 30 April and final results for the 12 months 31 October. The Group has historically paid an interim dividend following and a final dividend following these results. The dividend is announced on the day of results and details of payment timetables will be included in these results.
The Group intends to pay dividends with a split of one third as an interim dividend and two thirds as a final.
During this 18 month transitionary period, we have paid two interim dividends and proposed a final dividend of 58.33 cents, taking total dividend per share to 151.26 cents for the 18 month period. On an annualised basis, this total dividend is 100.84 cents per share which is growth of 14.5% on the full year dividend for the year ended 30 April 2017 of 88.06 cents per share. Notwithstanding the pattern of dividends during the past 18 month period, the dividend policy remains unchanged at two times covered by the adjusted earnings of the Company. In future periods, we will return to our approach of paying a single interim and final dividend for the financial year.
The dividend will be paid in Sterling equivalent to 45.22 pence per share, based on an exchange rate of £1 = $1.29, the rate applicable on 13 February 2019, the date on which the board resolved to propose the dividend. Subject to approval by shareholders, the dividend will be paid on 5 April 2019 to shareholders on the register at 1 March 2019.