A very interesting webinar from Alan Foy, CEO of SMS Plc. Smart Metering Systems Plc. If you’re interested in #ESG #sustainability #carbonreduction then you will know that smart meters are a key part of the UK’s strategy for meeting 2050 net zero emissions targets. Management are very much focused on being at the heart of the smart energy low-carbon revolution.

SMS already generates £80m of index linked annual recurring revenue from their existing assets, has a contracted pipeline to increase revenues by 50% and a further opportunity to add another £80m ILARR with existing customers. Having sold a proportion of the industrial and Commercial assets earlier this year the company has net cash of £50 and is in a great position to fund this growth. Against a backdrop of so many companies cutting or cancelling their dividends, SMS underlined their confidence in the future by instigating a new dividend policy of 25p per share, 4 times the previous level. This dividend will be paid quarterly and will rise by RPI. Given the ILARR growth and the financial strength there is scope to increase the dividend significantly.

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