Power Probe's London Stock Exchange Debut Raises $15M Despite Market Volatility
One of the newest members of AIM is gearing up for a dividend bonanza just months after its London IPO.
North Carolina-based Power Probe, which makes power tools for the motor industry and debuted on AIM in December, raising $15m (£11.1m), declared an initial dividend of 1.6p per share on Monday.
The firm, founded in California in 1992, said it also planned an interim dividend and a final dividend by the end of the year, before moving to a twice-annual dividend thereafter, adding that the move was because the firm 'want to reward shareholders early and it was part of our pitch to investors [ahead of the IPO].'
"It's our first dividend as a public company but not our first dividend," chief executive Chema Garcia told City AM in an interview.
The company was always trying to reward shareholders even when we were a private company"
Power Probe posted revenue growth of 25.7 per cent to $39.4m for 2025, and said it had not seen any significant disruption to trade caused by conflict in the Middle East because its supplies pass through the Panama Canal and avoid the Strait of Hormuz.
"In terms of the logistics expenses, the prices are going up, no matter if it's a sea shipment or air shipment," Garcia said, adding that "the increase in prices that we have at the moment ... is not that big."
London float for US company
Power Probe's London IPO added it to a rare number of US firms that have opted to join London's public markets over New York's.
Garcia said he first considered the London Stock Exchange after a meeting in New York with Chris Mayo, the London Stock Exchange's head of primary markets for the Americas.
"It started to open my eyes about the opportunities and the advantages that we could have with the London Stock Exchange," he said.
"Starting in the UK to expand into Europe was a no-brainer... we are really happy with the decision because we are completely sure it was the correct one."
Power Probe shares rose 1.1 per cent to 74.8p on Monday morning. The stock remains down 13 per cent since its IPO, though that remains significantly better than the share performance of most major London IPOs of 2025, which fell by an average of 26 per cent in the first quarter of 2026.
"Supported by strong structural market growth drivers, our IPO has provided an expanded platform from which to continue to deliver against these initiatives and create long-term, sustainable growth," Garcia said.
