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Further to our post this morning – Micro Focus - working its way back - we understand that Chairman Kevin Loosemore alluded to Micro Focus now having 6 years of uninterrupted EPS growth and that he’d set achieving a coveted Holway Boring Award as one of their objectives. This was all set in motion by my article on Boring old Sage on 2nd Dec 11. You get a Boring Award for 10 years of uninterrupted EPS growth – so roll on 2015/16.
Micro Focus shareholders had much else to celebrate this morning. Micro Focus announced a $130m special dividend – equivalent to 45p per share. Shareholders can take as capital or income. Not surprisingly, Micro Focus shares were up 24p in early trading. At 405p that’s a gain of nearly 70% since their 239p low in Aug when Micro Focus took the For Sale sign down and puts them in ‘positive territory’ for the year as a whole.
Also pleased that peace has broken out in the Mike Phillips household. You might remember that we reported that the CFO’s wife had bought shares at 308p in April only to see them crash. But now it looks like a very astute move!
Note – Richard Holway is a long term/long suffering Micro Focus shareholder.
