Objective Corporation Reports Strong Profit Growth and Increased Dividend for FY24

Highlights:

• Strong Revenue Growth: Objective Corporation (ASX: OCL) achieved a 6% increase in group revenue for FY24, totaling AU$117.5 million.
• Significant Earnings and Profit Gains: The company reported a 66% surge in earnings, bringing net profit up by 49% to AU$31.3 million.
• Increased Shareholder Returns: Objective Corporation raised its total dividend for the year to 17 cents per share, reflecting a 26% increase from the previous year.

Profits Soar in FY24

Objective Corporation (ASX: OCL) has reported impressive financial results for the 2024 fiscal year, showcasing significant growth in profits and dividends. The software company’s revenue rose by 6% to AU$117.5 million, demonstrating strong performance across its business segments.

Earnings Surge and Net Profit Gains

The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) saw a remarkable 66% increase, reaching AU$44.3 million. This surge in earnings contributed to a 49% rise in net profit, bringing it to AU$31.3 million for the year. The robust financial results reflect Objective Corporation’s successful strategies and operational efficiency, positioning the company for continued growth.

Dividend Increase Rewards Shareholders

In recognition of its strong financial performance, Objective Corporation's board declared a final fully franked dividend of 8 cents per share and an additional final unfranked dividend of 9 cents per share. This brings the total dividends for the year to 17 cents per share, marking a 26% increase compared to the previous year. The increased dividend highlights the company’s commitment to delivering value to its shareholders while maintaining a solid financial foundation.

Objective Corporation's strong FY24 results underscore its resilience and ability to thrive in a competitive market. With significant profit growth and a boosted dividend, the company continues to demonstrate its capacity for sustained success. Shareholders are poised to benefit from the company's ongoing financial health and strategic initiatives.

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