Reach PLC announce a final dividend proposed of 4.46 pence per share, flat with 2021, with full year dividend of 7.34p up 1.8%

DividendMax Ltd.

Reach PLC announce a final dividend proposed of 4.46 pence per share, flat with 2021, with full year dividend of 7.34p up 1.8%

The Reach PLC Board proposes a final dividend of 4.46 pence per share for 2022 (2021: 4.46 pence per share). The final dividend, which is subject to approval by shareholders at the Annual General Meeting on 3 May 2023, will be paid on 2 June 2023 to shareholders on the register at 12 May 2023.

An interim dividend for 2022 of 2.88 pence per share was paid on 23 September 2022 (2021: 2.75 pence per share).

In proposing a final dividend of 4.46 pence per share for 2022 (2021: 4.46 pence per share), the Board has considered all investment requirements and its funding commitments to the defined benefit pension schemes.

Other financial highlights include:

•Growth of 56% in data-led revenues which are now 32% of total digital (FY21: 21%)

•Engagement up strongly; registrations 12.7m with 5.6m active up 30%, page views +4%, page views per user +7%

•Additional print cover price increases and resilient volume performance support strong circulation revenue

•Inflation impact on operating costs of c.£40 million during year; mitigating actions protect strategic investment

•Industry wide decline in open-market advertising yields holds back overall digital growth

•New dedicated US operation in 2023; expect growth from expansion of audience and data-led engagement

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