Mincon Group
Website:
Mincon Group
Index:
AIM
EPIC: MCON
Supersector:
Industrial Goods and Services
Sector:
Industrial Engineering
Subsector:
Machinery: Industrial
Market Cap:
£117.92M
Payout Frequency: Semi-Annual
Mincon Group Dividend Analysis and Summary
Dividend summary (ex-dividend 21/05/2026)
- Final dividend: €0.0105 (1.05c) per share, subject to AGM approval (April 2026).
- Total FY2025 dividend: €0.0210 (2.10c) per share (unchanged vs FY2024).
- Ex-dividend date: 21/05/2026 (derived from record date).
- Record date: 22/05/2026.
- Payment date: 12/06/2026.
- Currency: Euro.
- Estimated cash cost of the final dividend: ~€2.23m (based on 212.47m shares); total FY2025 dividends paid/declared: ~€4.46m.
Dividend sustainability and coverage
- Earnings cover: FY2025 basic EPS €0.026 vs DPS €0.021 ? ~1.24x cover (payout ~81%). Earnings cover is on the tight side but improved with higher profits.
- Cash cover: Operating cash flow €8.8m; free cash flow (CFO – capex) ~€5.8m vs FY dividend ~€4.46m ? ~1.3x FCF cover; 2.0x on CFO. Adequate but not generous given working capital needs.
- Balance sheet and interest cover: Cash €11.7m; interest-bearing borrowings €33.5m (net ~€21.9m). EBITDA €19.3m and finance costs €2.0m ? interest cover ~9–10x; leverage looks manageable.
- Trajectory: FY2025 DPS is flat YoY (2.10c). With EBITDA margin recovery (13.0% vs 11.2%) and guidance for continued growth in 2026, the current dividend appears maintainable; near-term growth likely modest until earnings and free cash flow expand further.
Support from financial performance and capital allocation
- Profitability improving: EBITDA up 19% (continuing ops), operating profit up strongly; discontinued losses removed.
- Cash priorities: FY2025 used for inventory build (to service large construction projects), capex of €3.0m, dividends of €4.46m, and net debt reduction. This indicates a balanced approach but limited headroom for faster dividend growth near term.
- Strategic upside: The Epiroc collaboration (HIT system) and large construction projects could bolster earnings and cash generation, improving dividend headroom over time.
Structural/strategic developments impacting dividends
- Discontinued operations: Closure and asset disposal of Mincon Carbide (2024–2025) completed; supports margin mix and reduces drag on group results.
- Asset sale: Sale of Australian property completed on 31 Jan 2026 for ~€7.4m proceeds, improving near-term liquidity and indirectly supporting dividend capacity.
- APAC restructuring: Ongoing regional restructuring to pursue more profitable revenue; could temporarily affect volumes but aims to enhance profitability and cash flow.
- No equity structure changes: No share consolidation or new issuance disclosed; dividend remains in Euro.
Key risks and flags for dividend stability
- High payout ratio (~81% of FY2025 EPS) leaves less buffer if earnings soften.
- Working capital intensity: Inventory build absorbed cash in 2025; sustained large project activity could keep FCF cover tight at times.
- End-market cyclicality: Exposure to construction and mining; APAC weakness and US tariff/cost inflation remain headwinds.
- FX volatility: Translational FX loss in OCI (-€4.2m) and P&L FX loss (-€2.5m) highlight currency risk that can pressure reported earnings.
- AGM approval: Final dividend remains subject to shareholder approval in April 2026.
Read more
Mincon Group Annual Dividend Yield - 3.15%
Dividends Used in Calculation:
| Ex-Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 22/05/2025 |
13/06/2025 |
Final |
1.05¢ |
EUX |
| 13/11/2025 |
05/12/2025 |
Interim |
1.05¢ |
EUX |
Total (Annual Dividends Per Share):
1.82p
(Using exchange rate on 18/06/2026
EUR = £0.86678)
Dividend Yield =
Annual Dividends Per Share (1.82p)
÷ Share Price (57.85p)
= 3.15%
Mincon Group Dividend History
| Ex Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 21/05/2026 |
12/06/2026 |
Final |
1.05¢ |
EUX |
| 13/11/2025 |
05/12/2025 |
Interim |
1.05¢ |
EUX |
| 22/05/2025 |
13/06/2025 |
Final |
1.05¢ |
EUX |
| 14/11/2024 |
06/12/2024 |
Interim |
1.05¢ |
EUX |
| 23/05/2024 |
14/06/2024 |
Final |
1.05¢ |
EUX |
| 16/11/2023 |
08/12/2023 |
Interim |
1.05¢ |
EUX |
| 25/05/2023 |
16/06/2023 |
Final |
1.05¢ |
EUX |
| 18/08/2022 |
09/09/2022 |
Interim |
1.05¢ |
EUX |
| 26/05/2022 |
17/06/2022 |
Final |
1.05¢ |
EUX |
| 19/08/2021 |
10/09/2021 |
Interim |
1.05¢ |
EUX |
| 27/05/2021 |
18/06/2021 |
Final |
1.05¢ |
EUX |
| 13/08/2020 |
04/09/2020 |
Interim |
1.05¢ |
EUX |
| Year |
Interim |
Final |
Currency |
Total |
Change |
| 2024 |
1.050 |
1.050 |
EUX |
2.100 |
0.000 |
| 2023 |
1.050 |
1.050 |
EUX |
2.100 |
0.000 |
| 2022 |
1.050 |
1.050 |
EUX |
2.100 |
0.000 |
| 2021 |
1.050 |
1.050 |
EUX |
2.100 |
100.000 |
| 2020 |
1.050 |
|
EUX |
1.050 |
|
Mincon Group Dividend Calculator
Mincon Group Dividend Growth
| Dividend Growth (1Y) |
4.32%
|
| Dividend CAGR (5Y) |
0.21%
|
| Years of Growth |
1
|
| Payout Ratio |
80.83%
|
| Buyback Yield |
-3.35%
|
| Shareholder Yield |
-0.07%
|
| P/E Ratio (TTM) | 29.05 |
|---|
| Forward P/E | 16.41 |
|---|
| P/FCF | 23.27 |
|---|
| Earnings Yield | 4.08% |
|---|
| FCF Yield | 4.3% |
|---|
| ROE | 3.19% |
|---|
| ROCE | 6.44% |
|---|
| Profit Margin | 3.71% |
|---|
| Operating Margin | 7.37% |
|---|
| Gross Margin | 29.88% |
|---|