Specialist intellectual property law firm Murgitroyd Group said it would hike its final dividend by 21% after posting a 7.4% rise in underlying annual profit.
For the year through May, underlying pre-tax profit was expected to meet market expectations by rising to £4.08m, the company said.
It planned to pay a final dividend of 14.4p per share, up from 12.0p on-year, bringing total dividends for the year to 21p, up 24% on-year.
The results would include an exceptional net provision of £408k, agreed in consultation with the group's auditors in relation to a single debt.
The payer was a longstanding client that didn't dispute the debt and had confirmed its intention to pay. However, in view of of the quantum of current payments, Murgitroyd said it was prudent to make a full provision for now.
At 2:01pm: (LON:MUR) Murgitroyd Group PLC share price was -15p at 670p