ALSO Group raises dividend for ninth consecutive payout

CEO Gustavo Möller-Hergt points to strong FY 2020 as instilling shareholder confidence in the pan-European distributor

ALSO Group has announced its intention to raise its dividend policy to shareholders for the ninth consecutive payout, citing the success of its recent full year results.

In its AGM, board members of the Swiss distributor heavyweight approved a proposed dividend of CHF 3.75 per share (€3.39), paid out from 23 March.

ALSO Group claims that this represents an increase in the dividend payment of 312 per cent since 2012.

The distributor's announcement comes after revenues for the company's FY 2020 rose 13.1 per cent to €5.4bn year on year.

Meanwhile, EBITDA soared 15.7 per cent to €227.5m.

ALSO Group CEO Gustavo Möller-Hergt pointed to specific financing and legal "structural optimisation" advice packages for its 110,000 resellers as having helped the channel continue to drive business projects despite COVID-19.

He added that the company sees remote working as a trend that will continue to help drive growth for the distributor beyond lockdown restrictions.

Commenting on the board's decision to raise its dividend policy, Möller-Hergt said the move is "proof of the shareholders' confidence in the company's growth potential".

"The foundation of remote communication, will shape the new and ‘next normal'," he said.

"The development towards the remote reality of the ‘next normal' is an important driver for the IT industry and offers us excellent opportunities of development.

"We will consistently pursue our growth strategy in 2021 with a focus on regional expansion and technological competence."

ALSO Group has upgraded its financial forecast for FY 2021.

The company has told shareholders it now expects EBITDA to increase to between €240m and €255m for its next financial year.

That would mean year on year growth of between 5.49 and 12.09 per cent.