Stride Gaming will conduct its Annual General Meeting (AGM) at 9.30am today, where Nigel Payne, the company’s non-executive chairman, will announce the group’s trading performance since the beginning of the financial year. She will say trading has been broadly in line with expectations despite continuous challenging trading conditions.
The group is clearly focussed on winning and retaining mass market recreational customers onto its bingo and casino sites. The group intends to continue focussing on cost control and efficiency and leverage its infrastructure and proprietary technology to migrate more customers on its higher margin proprietary platform and drive cost synergies.
According to the board, the group will continue to be highly cash generative and remain committed to the revised dividend policy to distribute at least 50% of the adjusted net earnings in dividends.
The board has proposed a special dividend of approximately 8.0p per share related to the earn-out of the QSB Gaming transaction, which is expected to complete by the end of May. The dividend will be paid in June.