ITV declare an interim dividend of 1.7p

DividendMax Ltd.

ITV declare an interim dividend of 1.7p

The ITV Board has declared an interim dividend of 1.7p (30 June 2022: 1.7p). The Board remains committed to paying a total dividend of at least 5p for the full year, which it expects to grow over time, whilst balancing further investment to support our strategy and a commitment to investment grade metrics over the medium term.

Other financial highlights include:

Total external revenue was down 2% at £1,639 million, with growth in ITV Studios and digital revenues largely offsetting the decline in linear advertising revenues

o  Total ITV Studios revenue up 8% to £1,000 million, driven by the UK 

o  Media & Entertainment (M&E) revenue down 9% at £964 million, with total advertising revenue (TAR) down 11% as guided. Within this, digital advertising revenue was up 24% to £179 million

Group adjusted EBITA was down 52% at £152 million, as expected. This reflects the challenging advertising market and the planned investment in ITVX. Adjusted EPS was down 62% at 2.3p

EBITA was £133 million (30 June 2022: £295 million). Statutory profit before tax was £45 million (30 June 2022: £219 million) and statutory EPS was 1.0p (30 June 2022: 4.8p)

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