In line with The London Stock Exchange dividend policy, the interim dividend is calculated as one-third of the prior full year dividend. Accordingly, the Directors have declared an interim dividend of 25.0 pence per share, an increase of 7% (H1 2020: 23.3 pence per share). The interim dividend will be paid on 21 September 2021 to shareholders on the register on 20 August 2021.
Other financial highlights include:
Good performance across all divisions driving 4.6% growth in total income
Adjusted operating expense growth of 1.1% due to lower phasing of costs in H1; on track for mid-single digit cost growth for FY 2021 at constant currency (expected to be c.5%), reducing to low-single digit cost growth in 2022 and 2023
Adjusted EBITDA margin of 49.4%; margin will be lower for the full year as a result of cost phasing in H2, improving thereafter to achieve the 50% target and increasing beyond 2023
Good financial performance driving 18.6% increase in AEPS to 146.1p
Good progress on the integration of Refinitiv with £77 million of run-rate cost synergies realised at H1; full year guidance for run-rate cost synergy delivery increased from £88 million to £125 million; and 27 new products launched as part of revenue synergy programme
Group in a strong financial position; leverage reduced to 2.2x net debt/EBITDA following successful divestment of Borsa Italiana
