Fintel

Website: Fintel
Index: AIM
EPIC: FNTL
Supersector: Industrial Goods and Services
Sector: Support Services
Subsector: Business Support Services
Market Cap: £187.55M
Payout Frequency: Semi-Annual

Next Fintel Dividend

Fintel next goes ex-dividend on 28/05/2026. This will be the Final dividend for 2026.

The dividend per share amount is 2.5000p (GBP) and the payment date is 18/06/2026.

Key Dividend Details

Proposed final dividend: 2.50p per share (FY25)
Total FY25 dividend: 3.80p per share (+4.1% YoY vs 3.65p)
Ex-dividend date: 28/05/2026
Record date: 29/05/2026
Payment date: 18/06/2026
Status: Final dividend subject to AGM approval
Dividend cover (earnings): c.3.6x on adjusted EPS (13.7p vs 3.8p); c.1.6x on statutory EPS (6.1p)
Cash coverage: FY25 free cash flow £15.7m vs cash dividends paid £3.9m (~4.0x cover)

Dividend Sustainability and Growth

Coverage is robust on both earnings and cash metrics, with conservative payout (c.28% of adjusted EPS).
Quality of earnings supports resilience: 57% of revenue from SaaS & subscriptions; adjusted EBITDA margin up to 30.1%; underlying operating cash conversion 102%.
Balance sheet headroom: net debt £31.1m (leverage 1.2x), cash £17.3m, and £72.5m undrawn on the enlarged £120m RCF.
Policy: Board reiterates a progressive and sustainable dividend, balanced with organic investment and selective M&A. Given current cover and cash generation, mid-single-digit dividend growth looks supportable if trading remains in line.

Support from Financial Performance and Capital Allocation

FY25 performance: revenue £85.9m (+10%), adjusted EBITDA £25.9m (+16.6%), adjusted EPS 13.7p (+3.8%).
Capital allocation remains disciplined: ongoing product development (capitalised dev spend £4.2m), accretive M&A, and debt refinanced on better terms (lower margin; maturity to 2029).
Cash generation ample to fund the dividend alongside investment: free cash flow £15.7m and strong covenant headroom.

Structural Changes and Potential Dividend Implications

Operating model simplified into two divisions (Software & Data; Services) to drive scalability and margin leverage—supports long-term cash generation for dividends.
M&A:
- RSMR (Jan 2025; 70%): contributed £3.4m revenue and £1.1m EBITDA in-period.
- Pearson Ham insurance pricing data business (Jan 19, 2026): expected earnings accretive in first full year.
- Plannr stake increased to 49% (associate), enhancing data/CRM capability.
Integration and synergy capture should enhance recurring revenue and margins, underpinning dividend capacity; near-term integration spend and deferred/contingent consideration introduce timing effects on cash flows but appear manageable.
Financing: RCF expanded to £120m with improved terms, providing flexibility without pressuring the dividend given low current leverage.

Risks and Flags to Dividend Stability

Organic growth softness (like-for-like +0.8%) and IFA market consolidation continue to weigh on core memberships (Simplybiz membership fees down to £8.7m); management expects easing but this remains a watch-item.
Integration/M&A execution risk and ongoing non-underlying costs (£9.3m) could affect near-term cash flow timing; contingent/deferred consideration liabilities outstanding.
Regulatory change pace (e.g., Consumer Duty) drives demand for services but can create operational complexity for clients and the Group.
Leverage is modest, but reliance on RCF implies some interest rate sensitivity; currently well within covenants.

Dividends Used in Calculation:

Ex-Dividend Date	Payment Date	Type	Amount	Currency
22/05/2025	18/06/2025	Final	2.45p	GBX
25/09/2025	31/10/2025	Interim	1.30p	GBX

Total (Annual Dividends Per Share): 3.75p

Dividend Yield = Annual Dividends Per Share (3.75p) ÷ Share Price (180p) = 2.08%

Ex Dividend Date	Payment Date	Type	Amount	Currency
28/05/2026	18/06/2026	Final	2.5000p	GBX
25/09/2025	31/10/2025	Interim	1.30p	GBX
22/05/2025	18/06/2025	Final	2.45p	GBX
26/09/2024	01/11/2024	Interim	1.20p	GBX
23/05/2024	19/06/2024	Final	2.35p	GBX
28/09/2023	03/11/2023	Interim	1.10p	GBX
18/05/2023	19/06/2023	Final	2.25p	GBX
29/09/2022	04/11/2022	Interim	1.00p	GBX
28/04/2022	07/06/2022	Final	2.00p	GBX
28/04/2022	07/06/2022	Q4	2.00
30/09/2021	04/11/2021	Q2	1.00
30/09/2021	04/11/2021	Interim	1.00p	GBX
08/04/2021	07/05/2021	Final	2.85p	GBX
08/04/2021	07/05/2021	Q4	2.85

Year	Interim	Final	Currency	Total	Change
2024	1.200	2.350	GBX	3.550	5.970
2023	1.100	2.250	GBX	3.350	-33.000
2022	1.000	2.000		5.000	-35.060
2021	1.000	2.850		7.700

Number of Shares:

Payment	Paid	Amount
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