WiseTech Global hikes full-year dividend by 71% as profits surge higher

The WiseTech Global Ltd (ASX: WTC) share price is up 10.9% to $58.79 in Wednesday trading after the provider of software solutions to the logistics industry reported full-year revenue up 25% to $632 million and net profits after tax up 72% to $182 million.

The company declared a fully franked final dividend of 6.40 cents per share, taking total FY22 dividends to 11.15 cents per share, an increase of 71% compared to FY21.

The WiseTech final dividend will be paid to eligible shareholders on 7 October 2022. WiseTech shares go ex-dividend on 9 September 2022. 

Based on the WiseTech share price today, the stock trades at more than 103 times earnings and on a fully franked dividend yield of 0.15%.

Looking ahead, WiseTech said it anticipated FY23 revenue growth of 20–23% and earnings before interest, tax, depreciation, and amortisation (EBITDA) growth of 21–30%.

Over the past 12 months, WiseTech shares have gained 62%, compared to a fall of 7.6% in the S&P/ASX 200 Index (ASX: XJO). By contrast, fellow large-cap tech stock Xero Limited (ASX: XRO) shares have fallen 42% in the last year.

The post WiseTech Global hikes full-year dividend by 71% as profits surge higher appeared first on The Motley Fool Australia.

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Motley Fool contributor Bruce Jackson has positions in WiseTech Global and Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended WiseTech Global and Xero. The Motley Fool Australia has positions in and has recommended WiseTech Global and Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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