Gateley lays down dividend plans
COMMERCIAL law firm Gateley has laid down its dividend rules in its first year as a listed company.
Today it has announced that its dividend policy will follow a traditional bi-annual approach.
It will pay in aggregate, up to 70% of profits after tax in dividends.
In December 2015, the firm reported its half year results. They cover the greater part of the firm’s first five months as a plc; it became the first UK law firm to be listed when it started trading on AIM on June 8.
It recorded revenue for the period of £29.6m (2014: £26.7m) while profit before tax was up 11.5% to £2.9m (pro-forma 2014: £2.6m).
Related: Revenue climbs more than 10% as Gateley gets used to life as a plc…
Having paid an interim dividend on 22 January 2016, the board will next conider dividend payments at its preliminary results for the year ending 30 April 2016, which it expects to announce in July.
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