Enprise Group (NZAX: ENS) has announced a 3.2% interim dividend payment, bringing dividends to 9.2% this year based on market value.
Enprise Group CEO Elliot Cooper says the decision to pay the dividend, which follows a 6% dividend announcement in June 2016, signals an intention to pay dividends regularly.
“Enprise Group will now get into a routine of paying interim and final dividends,” he says.
“We have sufficient cash to pay regular dividends and still reinvest in the business.”
Both of Enprise Group’s operating businesses – Enprise Solutions and its joint venture Datagate Innovation – are performing strongly, he says.
“Our cloud business software company Enprise Solutions is profitable and is the leading trans-Tasman provider of solutions based on the MYOB Advanced and MYOB EXO software platforms.
“Our joint venture, Datagate Innovation, has nearly tripled customer numbers over the past twelve months. Datagate is gaining traction in the fast-growing online billing market space. It is an early stage business that is enabling IT, Telco & Utility resellers to monetize the growing trend towards subscription service revenue.
“Enprise Group has sufficient cash to continue to invest in our share of Datagate while establishing regular payment of interim and final dividends to shareholders,” Elliot Cooper says.
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