The Reach PLC Board proposes a final dividend of 4.46 pence per share for 2022 (2021: 4.46 pence per share). The final dividend, which is subject to approval by shareholders at the Annual General Meeting on 3 May 2023, will be paid on 2 June 2023 to shareholders on the register at 12 May 2023.
An interim dividend for 2022 of 2.88 pence per share was paid on 23 September 2022 (2021: 2.75 pence per share).
In proposing a final dividend of 4.46 pence per share for 2022 (2021: 4.46 pence per share), the Board has considered all investment requirements and its funding commitments to the defined benefit pension schemes.
Other financial highlights include:
•Growth of 56% in data-led revenues which are now 32% of total digital (FY21: 21%)
•Engagement up strongly; registrations 12.7m with 5.6m active up 30%, page views +4%, page views per user +7%
•Additional print cover price increases and resilient volume performance support strong circulation revenue
•Inflation impact on operating costs of c.£40 million during year; mitigating actions protect strategic investment
•Industry wide decline in open-market advertising yields holds back overall digital growth
•New dedicated US operation in 2023; expect growth from expansion of audience and data-led engagement
