Flowtech Fluidpower investors set to see dividend increase

18th Jan 2016 11:33

(ShareCast News) - Flowtech Fluidpower's revenue for the year is expected to rise 18% to £44.7m, prompting the company to propose an increase to its dividend.The AIM-listed company posted a trading update for the year to 31 December 2015 on Monday, ahead of its full results out in April.It noted that its gross margins are robust and in line with management expectations, while the balance sheet shows expected net debt of around £8.9m.Flowtech said it is committed to a progressive dividend policy and said it plans to pay a dividend which is 5% higher than in 2014.Despite some challenges in the market, the company said it is confident it can grow further organically and through a number of acquisition opportunities being "actively pursued".Shares in the company were up 1.39p (1.32%) to 106.89p at 1157GMT.