17% dividend increase for UTV

17% dividend increase for UTV

UTV Media plc has announced a 17% dividend increase after posting preliminary results for last year.

The company reported pre-tax profits of £21m for 2012.

One of UTV's main highlights of the year was the renewal of the Channel 3 licence to 2024.

The national radio station talkSPORT, which is owned by UTV, also signed a deal for Barclays Premier League worldwide audio broadcasting rights to 2016, and acquired worldwide commercial radio rights to the FA Cup and Capital One Cup.

John McCann, Group Chief Executive, UTV Media plc, said: "This is a robust performance in what continues to be a challenging economic environment, especially in Ireland.

"We have maintained effective control over costs coupled with strong cash management and continued debt reduction while at the same time maintaining the market leading positions enjoyed by our media assets.

"Reflecting our strong cash generation and our confidence in the future, we have increased the full year dividend by 17% and remain confident that the Group is well placed to maximise opportunities going forward."


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