London Stock Exchange increases its 2017 interim dividend by 20%

DividendMax Ltd.

London Stock Exchange increases its 2017 interim dividend by 20%

H1 2017 Highlights

Continued strong financial performance with income growth across core business areas - in particular, in Information Services, including strong results at FTSE Russell, and OTC clearing at LCH

Revenue up 18% to £853 million (H1 2016: £722 million); total income up 20% to £946 million (H1 2016: £786 million)

Adjusted operating profit up 20% at £398 million (H1 2016: £333 million), with underlying operating expenses on an organic and constant currency basis up 5% as the Group continues to invest in growth and efficiencies 

On a reported basis: operating profit of £305 million (H1 2016: £199 million); profit before tax up 69% to £277 million (H1 2016: £164 million); profit after tax of £208 million (H1 2016: £114 million) and £186 million including discontinued operations (H1 2016: loss of £16 million)

Adjusted EPS up 23% at 71.2 pence (H1 2016: 57.7 pence); basic EPS up 84% to 50.4 pence (H1 2016: 27.4 pence)

Interim dividend increased 20% to 14.4 pence per share (H1 2016: 12.0 pence per share) in line with our stated dividend policy; £200 million share buyback ongoing

Strong balance sheet position with leverage of 1.2 times adjusted pro forma net debt:EBITDA, notwithstanding continued investment spend, acquisition of Mergent and ongoing share buybacks

Announced acquisition of The Yield Book and Citi Fixed Income Indices, including the World Government Bond Index, for total cash consideration of $685 million (£535 million)

Investor Update event in June highlighted the good progress in executing our strategy, with new information on targeted revenue growth and continued cost control - expected to deliver further improvement to operating leverage, delivering enhanced operating margins and shareholder value

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