An interim dividend of 3.7p per share has been proposed by the STV Board and is subject to approval by the board of directors. It is payable on 5 November 2021 to shareholders who are on the register at 1 October 2021. This interim dividend, amounting to £1.7m has not been recognised as a liability in this interim financial information. It will be recognised in shareholders' equity in the year ending 31 December 2021.
Other financial highlights include:
Total revenue of £60.3m, +35% on 2020 and +10% on 2019
Adjusted operating profit of £11.4m, +118% on 2020 and +3% on 2019
STV-controlled advertising continues to outperform the wider market, with video on demand (VOD) advertising on the STV Player +62% (2019: +83%) and regional advertising revenues +27% (2019: +4%) in H1
Studios revenue +265% on 2020 (2019: +202%), reflecting the recovery in production activity and recent commissioning momentum
Operating margin of 19%, +7 percentage points and broadly back to pre-Covid levels
Adjusted EPS is 19.2p, up 79% on 2020, with the higher effective tax rate in the current period diluting the year on year growth relative to operating profit
Net debt of £17.6m in line with opening position for the year
