Millennium Services Group has announced an FY revenue increase of 2.0% to AU$265.8 million.

The total revenue for the services company is forecasted to land between AU$300 million and AU$305 million in FY24.

EBITDA in FY24 is anticipated between AU$12.2 million and AU$13.2 million.

This comes after a reported FY EBITDA of AU$7.1 million, down from the previous AU$9.1 million.

Implementing a new dividend policy from FY24, the company aims to maintain a target payout ratio of 30%to 40% of sustainable profits.

The governing board intends all future dividends to be fully franked to the maximum possible extent.

Millennium Services Group (ASX:MIL) provides security services, cleaning, and maintenance activities for large facilities and infrastructure.