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Spirent confirms dividend

The telecoms testing provider had a 'robust' first quarter
April 15, 2020

Telecoms testing provider Spirent (SPT) posted a 12 per cent increase in revenue in the first quarter of 2020, with ‘robust profit growth’ compared with the same period last year. 

IC TIP: Buy at 225p

Management said that it has benefited from a healthy order book and continued to build momentum into the second quarter. Indeed, the company noted that 5G development is continuing at pace, especially as Asian service providers accelerate their 2020 targets so that their networks have more capacity to meet increasing demand. Spirent has also been appointed as adviser to the UK government's 5G security working group to help develop policy and set standards. 

The board confirmed payment of the final dividend of 2.7 pence per share, due to be paid on 1 May to shareholders on the register on 13 March subject to approval at the AGM.