Bravura Solutions Ltd (ASX: BVS) shares are catching the eye of investors on Wednesday morning.
In early trade, the ASX All Ords stock is racing 15% higher to a 52-week high of $1.91.
This latest gain means that the wealth management technology company's shares are now up 150% since this time last year.
Why is this ASX All Ords stock jumping today?
Investors have been fighting to get hold of the company's shares today after it made a big announcement that has got investors very excited.
According to the release, the ASX All Ords stock has upgraded its guidance for FY 2025 following the successful transformation and execution of its business strategy over the past 18 months.
Bravura Solutions revealed that it now expects its revenue to be in the range of $240 million to $245 million for FY 2025. This is up from its previous guidance range of $235 million to $240 million.
Things are even better for its earnings, with management lifting its cash EBITDA guidance to be in the range of $33 million to $36 million. This compares to its previous guidance range of $28 million to $32 million.
Finally, reported EBITDA is now forecast to be in the range of $41 million to $44 million, up from $36 million to $40 million.
But the good news doesn't stop there. Far from it!
Dividends to return
As a result of its return to profitability and cash generation, the ASX All Ords stock intends to recommence the payment of dividends in FY 2025.
Its first dividend is expected to be announced in February with its half year results and then be paid in March after a two-year hiatus.
This is in addition to the capital return of at least $0.163 per share to be paid on 30 January, which management believes reflects the company's improved financial performance and strong balance sheet.
Commenting on the guidance upgrade and return of dividend payments, the ASX All Ords stock's CEO, Andrew Russell, said:
We are pleased to inform shareholders that our Cash EBITDA, EBITDA and revenue performance is anticipated to be ahead of the guidance previously provided. This is further confirmation of the execution progress of our strategy to reset and energise the Bravura business. We have returned to profitability and have a healthy balance sheet. As a result, we intend to recommence the payment of dividends which will be announced as part of our half year results.
