Accuracy Coverage Pricing Contact

ITV increases its 2018 interim dividend by 3%

Investment Tools Ltd.
ITV increases its 2018 interim dividend by 3%

ITV 2018 interim results

Strong operating performance in an uncertain economic environment

• Total external revenue up 8% at £1,593 million (2017: £1,469 million) with non-advertising revenues up 14% at £958m (2017: £837 million)

• Total ITV Studios revenue up 16% at £803 million (2017: £692 million), including £12 million of unfavourable currency impact

• ITV total advertising revenue up 2% as expected, with 48% growth in Online

• ITV Studios adjusted EBITA up 7% at £118 million (2017: £110 million)

• Broadcast & Online EBITA down 12% to £257 million (2017: £293 million) reflecting the timing of the Football World Cup as previously guided

• Adjusted EBITA down 7% at £375 million (2017: £403 million)

• Adjusted EPS down 8% at 7.1p (2017: 7.7p)

• Statutory EPS up 4% at 5.3p (2017: 5.1p)

Exceptional viewing performance and strong creative pipeline

• Strong on-screen and online viewing performance

- ITV Family SOV up 9%, ITV2 SOCI for 16 to 34's up 19% and online viewing up 33%

• ITV Studios has a healthy pipeline of new and returning programmes

Refreshed strategy for the future

• Building on strong foundations

• Strategy to address the opportunities and challenges of the competitive media landscape

• Clear vision to deliver growth and make ITV more resilient:

- Strengthen the integrated producer broadcaster

- Grow UK and Global Productions

- Create Direct to Consumer business

• Focus on brand, data, creativity and capabilities

• Highlighted £60 million of investments over the period to 2021, with no change in 2018 guidance and £40 million of investment in 2019

• Targeting £35 to £40 million cost savings from 2019 to 2021, with £15 million in 2019

• Over the three years to the end of 2021 we will deliver:

- Double digit online revenue growth per annum

- Total ITV Studios revenues of at least 5% average CAGR at an EBITA margin of 14% to 16%

- Growth in Direct to Consumer revenues to at least £100m

Strong balance sheet and healthy liquidity

• Strong profit to cash conversion of 94%

• Flexibility and capacity to continue to invest across the business

• Reflecting strong cash flows and the Board's confidence in the business, it has declared a 2.6p interim dividend, up 3%

• Committed to at least 8p full year dividend in 2018 and 2019, through the period of investment

Outlook for 2018

• Confident that ITV Studios will deliver good organic revenue growth

• Strong double digit online revenue growth

• Total advertising forecast to be up 1% for the nine months to the end of September, with Q3 broadly flat against a backdrop of continued economic uncertainty


Companies mentioned

Latest News

Investment Tools Limited

GVC declare they will pay an interim dividend of 17.6p, reflecting an increase of 10% compared to last year, and in-line with the new policy of double-digit year-on-year increases.

Read more
Investment Tools Limited

The Board has declared an interim dividend of 4.0 US cents per share in respect of the first half of 2019, down from 6.0 US cents. KAZ Minerals PLC, the parent company of the Group, is a non-trading investment holding company and derives its profits from dividends paid by subsidiary companies.

Read more
Investment Tools Limited

The  Marshalls board has declared an interim dividend of 4.70 pence (2018: 4.00 pence) per share, an increase of 18 per cent, reflecting the strong cash generation and the Group's continuing progressive dividend policy. The Board will continue to adhere to the Group's capital allocation policy and the policy of maintaining a 2 times dividend cover.

Read more
Investment Tools Limited

Clarkson have increased their dividend by 1p per share to 25p per share. The Company has now delivered 16 years of consecutive dividend growth.

Read more
Investment Tools Limited

The Board of Hargreaves Lansdown has declared a 2019 total ordinary dividend of 33.7 pence per share (2018: 32.2p), 5% ahead of last year. This is in line with EPS growth and maintains the ordinary dividend payout ratio at 65%. In addition, the Board has declared a special dividend of 8.3 pence per share (2018: 7.8p). The 2019 total dividend of 42.0 pence per share (2018: 40.0p) is up 5% and results in a total dividend payout ratio of 80.6% (2018: 80.6%). Subject to shareholder approval of the final dividend at the 2019 AGM, the final and special dividends will be paid on 18 October 2019 to all shareholders on the register at the close of business on 27 September 2019.

Read more
Investment Tools Limited

Evraz has announced interim dividend for 2019 of US$508.17m (US$0.35 per share) has been declared, reflecting the Board's confidence in the Group's financial position and outlook.

Read more
Investment Tools Limited

The Savills Board has declared an interim dividend of 4.95p per share (2018: 4.8p), supported by the performance of the Group's less transactional businesses. The interim dividend of 4.95p per share will be payable on 2 October 2019 to shareholders on the register on 5 September 2019.

Read more
Investment Tools Limited

ContourGlobal have proposed quarterly dividend of USD 3.6901 cents per share, equivalent to $24.75 million, reflecting their commitment to 10% year on year dividend growth supported by ContourGlobal's strong and predictable cash flow generation. 

Read more
Investment Tools Limited

Arrow Global will pay a 4.4p interim dividend, an increase of 10% from the H1 2018 interim dividend of 4.0p. This is in line with the Group's policy to pay 50% of the previous year's final dividend.

Read more
Investment Tools Limited

Derwent London have raised their interim dividend by 9.9% to 21.00p from 19.10p per share in 2018

Read more
More News