Antennas and agtech specialist MTI Wireless Edge Ltd (LON:MWE) upped its dividend by a third as profits and cashflow picked up strongly over the past year.
Revenues rose by 13% to US$40mln (US$35.5m), with profits rising by 29% to US$3.4mln as margins benefited from a greater scale.
MTI is seeing increased demand for both military and 5G antennas, with a number of tests ongoing with large equipment manufacturers.
The dividend for the year rises to 2c from 1.5c.
Moni Borovitz, chief executive, said it has been an excellent result in 2019 with prospects well set for 2020.
“Our business is diversified across several markets with a core focus on providing radio frequency solutions. We will continue to seek to expand through a mix of acquisition led and organic growth.”
Shares rose 10% to 34p.