Jul 28, 2021

ITV to reinstate dividend as advertising revenues rebound

ITV has said it plans to reinstate its dividend after advertising revenues rebounded from the biggest drop in the UK broadcaster's history, although shareholders will need to wait several more months for the payout. Reporting a 27 per cent recovery in first-half revenues from the year ago period to £1.55bn, ITV said it would not pay an interim dividend but planned to make a final payout for the year "Assuming the economy continues to recover". Ad revenue improved 29 per cent in the six months to June 30, led by a 55 per cent jump on its video-on-demand platforms such as ITV Hub, the group said in its earnings statement on Wednesday. Online viewing improved 6 per cent and 34.6m users subscribed to ITV Hub. First-half revenues jumped 26 per cent at ITV Studios, producer of series such as Line of Duty.

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