Tuesday 24th August 2021
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Vector Group today announces a strong result for the full 2021 financial year, with adjusted earnings before interest, tax, depreciation and amortisation (adjusted EBITDA) of $513.5 million, up $23.5 million or 4.8% on the prior year.
Vector Chair Jonathan Mason said: “Our clear strategy has enabled us to deliver a strong financial result in the face of a challenging environment that has included continued disruption from Covid-19. Group net profit after tax was $194.6 million, up $97.3 million from the prior year. The result was largely due to increased earnings, higher capital contributions and lower interest cost more than offsetting higher depreciation and amortisation. The prior year also included a non-cash impairment of $32.0 million.
“We commend our teams who have continued to respond to customer needs with urgency, commitment and adaptiveness, as we continue to find ways to contribute positively to the global challenge of decarbonisation. Through our strategy we are achieving those outcomes and continuing to deliver strong results for our shareholders.
“The Board has determined that shareholders will receive a final dividend of 8.50 cents per share imputed at 10.5%, taking the full year partially imputed dividend to 16.75 cents per share.
“The Board has announced the appointment of Anne Urlwin as Director of Vector Limited, with effect from 1 September 2021. We are delighted with Anne’s appointment as she brings a broad range of complementary experience and insights to the existing Board, including governance roles in renewable energy, infrastructure, telecommunications, and other sectors. We look forward to welcoming her to the Vector Board when she starts with us in September.”
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