Croma Security Solutions Group
Website:
Croma Security Solutions Group
Index:
AIM
EPIC: CSSG
Supersector:
Industrial Goods and Services
Sector:
Support Services
Subsector:
Business Support Services
Market Cap:
£10.67M
Payout Frequency: Annual
Croma Security Solutions Group Dividend Analysis and Summary
Dividend details
- Type: Final dividend for FY25
- Amount: 2.4p per share (FY24: 2.3p; +4.3% YoY)
- Ex-dividend date: 04/12/2025
- Record date: 05/12/2025
- Payment date: 17/12/2025
- Status: Subject to shareholder approval at the AGM on 01/12/2025
- Currency: GBP
Dividend sustainability and growth
- Earnings support: FY25 EPS 5.72p vs DPS 2.4p implies dividend cover of roughly 2.4x (c.42% payout) — conservative for an AIM small-cap.
- Profitability momentum: Revenue +10% to £9.63m; EBITDA +10% to £1.17m with a steady 12.1% margin; net profit up 46% — supportive of a modestly progressive dividend.
- Cash and balance sheet: Cash £4.3m, no borrowings. Dividend cash cost is modest (~£0.33m) versus net cash and operating cash generation (£0.63m in FY25).
- Cash flow context: Operating cash covers the dividend, but capex/property and bolt-on acquisitions absorb cash. Staged Vigilant receipts provide incremental funding (see below), which helps maintain flexibility.
- Growth trajectory: The uplift to 2.4p maintains a progressive pattern, aligned with a buy-and-build strategy expected to drive earnings over time. Near-term increases likely to remain incremental while acquisition pace accelerates.
Structural changes and policy signals
- M&A: Two locksmith/security acquisitions completed (Meridian, Benn Lock & Safe) in FY25; the company targets 3–5 acquisitions per year, indicating ongoing capital deployment into growth.
- Asset base: Purchase of freehold properties (unencumbered) provides funding optionality (potential to lever if needed) without current balance sheet strain.
- Portfolio rationalisation: Post-year-end consolidation reduced centres from 18 to 16 to drive efficiency — neutral-to-positive for cash generation if synergies materialise.
- Disposal proceeds: Continuing staged receipts from the 2023 Vigilant sale — RNS references a further £1.24m due by June 2026 (after £0.43m received in Sept-25); elsewhere notes £1.7m remaining. These inflows bolster liquidity and support the dividend while funding M&A.
- Board refresh: New Chair and NEDs appointed, signalling governance strengthening. No change to dividend policy communicated; language reiterates commitment to shareholder value.
Risks and flags to dividend stability
- Integration and execution risk: Strategy depends on successfully integrating multiple small acquisitions; management overheads have increased to support this.
- Cash allocation trade-offs: Elevated capex/property purchases and bolt-ons could compete with dividend growth in the short term, despite a strong net cash position.
- Margin pressure: Gross margin dipped to 43.4% (from 45.8%), attributed to stock provision alignment on acquisitions; watch for normalisation versus structural pressure.
- Receivables risk: Remaining Vigilant staged payments support liquidity; there is residual counterparty/timing risk until final receipt.
- Small-cap cyclicality: AIM exposure and a focused end-market mix can introduce earnings and cash flow volatility; dividend remains subject to AGM approval.
Read more
Croma Security Solutions Group Annual Dividend Yield - 3.51%
Dividends Used in Calculation:
| Ex-Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 26/03/2020 |
08/04/2020 |
Interim |
0.75p |
GBX |
| 20/08/2020 |
04/09/2020 |
Interim |
0.75p |
GBX |
| 12/11/2020 |
27/11/2020 |
Final |
1.20p |
GBX |
Total (Annual Dividends Per Share):
2.70p
Dividend Yield =
Annual Dividends Per Share (2.70p)
÷ Share Price (77p)
= 3.51%
Croma Security Solutions Group Dividend History
| Ex Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 04/12/2025 |
17/12/2025 |
Final |
2.4000p |
GBX |
| 05/12/2024 |
18/12/2024 |
Final |
2.30p |
GBX |
| 30/11/2023 |
15/12/2023 |
Final |
2.20p |
GBX |
| 01/12/2022 |
16/12/2022 |
Final |
2.10p |
GBX |
| 11/11/2021 |
26/11/2021 |
Final |
2.00p |
GBX |
| 12/11/2020 |
27/11/2020 |
Final |
1.20p |
GBX |
| 20/08/2020 |
04/09/2020 |
Interim |
0.75p |
GBX |
| 26/03/2020 |
08/04/2020 |
Interim |
0.75p |
GBX |
| 07/11/2019 |
29/11/2019 |
Final |
1.10p |
GBX |
| 21/03/2019 |
08/04/2019 |
Interim |
0.70p |
GBX |
| 08/11/2018 |
30/11/2018 |
Final |
1.00p |
GBX |
| 08/03/2018 |
09/04/2018 |
Interim |
0.60p |
GBX |
| 09/03/2017 |
07/04/2017 |
Interim |
0.50p |
GBX |
| 11/12/2014 |
08/01/2015 |
Interim |
0.30p |
GBX |
| Year |
Interim |
Final |
Currency |
Total |
Change |
| 2024 |
|
2.300 |
GBX |
2.300 |
4.540 |
| 2023 |
|
2.200 |
GBX |
2.200 |
4.760 |
| 2022 |
|
2.100 |
GBX |
2.100 |
5.000 |
| 2021 |
|
2.000 |
GBX |
2.000 |
-25.920 |
| 2020 |
1.500 |
1.200 |
GBX |
2.700 |
50.000 |
| 2019 |
0.700 |
1.100 |
GBX |
1.800 |
12.500 |
| 2018 |
0.600 |
1.000 |
GBX |
1.600 |
220.000 |
| 2017 |
0.500 |
|
GBX |
0.500 |
66.660 |
| 2014 |
0.300 |
|
GBX |
0.300 |
|
Croma Security Solutions Group Dividend Calculator
Croma Security Solutions Group Dividend Growth
| Dividend Growth (1Y) |
4.35%
|
| Dividend CAGR (5Y) |
3.71%
|
| Years of Growth |
10
|
| Payout Ratio |
40.2%
|
| Buyback Yield |
0.17%
|
| Shareholder Yield |
3.27%
|
| P/E Ratio (TTM) | 13.57 |
|---|
| Forward P/E | 19.87 |
|---|
| P/FCF | – |
|---|
| Earnings Yield | 7.37% |
|---|
| FCF Yield | -6.15% |
|---|
| ROE | 5.08% |
|---|
| ROCE | 3.75% |
|---|
| Profit Margin | 8.16% |
|---|
| Operating Margin | 6.39% |
|---|
| Gross Margin | 43.39% |
|---|