WiseTech (ASX:WTC) lifts final dividend by 66%, how are shares reacting?
Kalkine Media
Published Aug 24, 2022 22:08
WiseTech (ASX:WTC) lifts final dividend by 66%, how are shares reacting?
- WiseTech’s board has declared final fully franked dividend of 6.40 cents per share today, payable on 7 October 2022.
- On Wednesday, the company reported a 25% increase in its yearly revenue to AU$632.2 million.
- Underlying NPAT increased by 72% to AU$181.8 million.
- For the financial year 2023, the company expects a 20% to 23% surge in revenue.
Software solutions provider, Wisetech Global Ltd (ASX:WTC), on Wednesday, released its full-year results for FY22 via an ASX announcement.
The company has reported strong numbers despite the Covid-related business disruption, inflationary pressures and supply chain constraints. Following the ‘standout performance’, the company has announced a 66% hike in its final dividend on FY21.
WiseTech’s board has declared a final dividend of 6.40 cents per share, taking the full-year dividend to 11.15 cents per share, up 71% on FY21.
Following the news, WiseTech shares were spotted trading 11.735% strong at AU$59.220 per share at 11:42 AM AEST. In last 12 months, the share price has surged by 61.16%, and in last six months, it increased by 41.43%. The Year-to-date fall is 2.54%. In last five years, the share price has zoomed up 643.18%.
h2 A look at WiseTech’s FY22 report/h2- The company reported total revenue of AU$632.2 million in FY22, up 25% on the prior corresponding period (pcp).
- CargoWise revenue reached AU$447.9 million, a surge of 35% on pcp. Increased usage by existing customers, new customers win, and Large Global Freight Forwarder (LGFF) rollouts drove the CargoWise revenue.
- EBITDA increased by 54% to AU$319.0 million, and EBITDA margins increased by nine percentage points.
- Underlying net profit after tax (NPAT) grew by 72% to AU$181.8 million, and statutory NPAT surged by 80% to AU$194.6 million.
- Free cash flow grew by 71% to AU$237.3 million.
- The company ended the year with an AU$483.4 million cash balance and an AU$225 million undrawn debt facility. WiseTech said its liquidity position offers financial flexibility and headroom to fund growth opportunities.
What does management say on FY22 results? Richard White, CEO and founder of WiseTech, commented:
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h2 Outlook and guidance/h2For FY23, the company expects a 20% to 23% growth in revenue and a 21% to 30% rise in the EBITDA.
The guidance is based on the assumption that the CargoWise revenue would increase by around 30% to 35%.
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Written By: Kalkine Media
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