ZIGUP plc (ZIG.L), on Tuesday, said its Board remains confident of the Group's long-term growth strategy and prospects. The company also affirmed that the outlook for the year remains unchanged.
The company has announced that its Annual General Meeting will take place at 10:30 a.m. on September 24, 2024, at the offices of Bryan Cave Leighton Paisner LLP, Governor's House, 5 Laurence Pountney Hill, London, EC4R 0BR. Shareholders are requested to approve a final dividend of 17.5 pence per share, scheduled to be disbursed on September 27, 2024, to shareholders listed on the register as of the close of business on August 30, 2024. If approved, this dividend will result in a total ordinary dividend of 25.8 pence per share for the year ending April 30, 2024.
The company has reported significant improvement in new vehicle supply in recent months. It has indicated that progress is being made in both fleet replacement and meeting the strong demand for LCVs, leading to a reduction in the average age of its fleets across various regions. As anticipated, the used vehicle markets are experiencing a normalization of LCV residual values due to replacing older vehicles.
With an increase in supply, there will be a higher fleet capital expenditure this year. This aligns with the company's objective, as communicated in July, of achieving profitable growth, generating attractive cash flow, and delivering strong returns on investment well above the Group's cost of capital. The company's leverage remains within its target range of 1-2x, and its balance sheet is further supported by £1.4 billion of fleet assets.
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.