- Wolters Kluwer (OTCPK:WTKWY -0.6%) reported a rise in Q1 revenue, approved a final dividend and maintained its share buyback
- Though, the company withdrew its 2020 guidance in the wake of coronavirus-related disruption.
- Revenue rose 3% on a constant-currency and 4% on an organic basis
- Recurring revenues representing ~82% of Wolters Kluwer's annual revenue, rose 5%, while nonrecurring revenue declined 2% organically.
- The final dividend for 2019 was approved, and is set to be paid on May 20; maintains share buyback of up to €350M, though the pace has been slowed with a mandate for €50M in buybacks for the next three months.
- Wolters Kluwer narrowed its net debt to €2.14B, compared to €2.20B at Dec. 31; ended the period with net cash of €298M and an undrawn facility of €600M