The STV Board has recommended a return to cash dividend payments and a final dividend of 6.0p per share for 2020, giving a full year cash equivalent dividend of 9.0p, +43% on 2019
Other financial highlights include:
STV coming through Covid confidently with better than expected 2020 performance
Digital business continues to accelerate, with online viewing up 68% and VOD advertising up 12% in 2020, and new content deals with Sony and eOne announced
Studios maintaining positive momentum, with record 19 new commissions in 2020
Advertising trends improving materially, with Jan-April total advertising revenue expected to be +7-9% including April +60-75%; STV-controlled advertising continues to outperform
Record audience growth maintained into 2021 on both STV (+14%) and STV Player (+83%)
Furlough grant of £1.6 million to be repaid in full, reflecting STV's improving financial performance
Achieved 2020 diversification target of one third of operating profit from new revenue streams
Refreshed 3-year strategic plan focuses on accelerating STV's diversification, targeting at least 50% operating profit from outside traditional broadcasting by the end of 2023
Agreement in principle to sell the lottery management company, subject to Gambling Commission approval
