We think a measure of breast-beating from ‘software business of two halves’, Microgen, is well warranted with the news that the company is doling out another 5p a share special dividend to shareholders. Chairman Martyn Ratcliffe noted that Microgen has returned over £28m to investors in divs and buybacks over the past three years even as the company’s market cap increased over threefold to £123m.
The news comes on the back of an upbeat trading statement heralding a ‘beat’ for the FY. Ratcliffe recently assumed executive control of troubled education software company, RM (see More changes at the top for RM). As we have said before, no doubt RM’s investors are praying that he can make his magic work for them too!