Mondadori sets new dividend policy to reward shareholders more

Arnoldo Mondadori Editore

14/03/2024 14:54

March 14 (Reuters) - Italian publisher Mondadori
 MOED.MI  proposed on Thursday a new dividend policy for the
next three years to reward shareholders more, as it announced a
20% jump in annual net profit.
    The group, owned by the holding company of the Berlusconi
family Fininvest, resumed paying dividends in 2021, paying out
50% of its ordinary cash flow per share, after halting payouts
for a decade.
    Mondadori said that over the 2024-2026 period it would
either distribute 50% of the ordinary cash flow per share to
shareholders or increase the dividend per share by 10% a year,
depending on which value is larger. 
    The company announced a net profit of 62.4 million euros 
($68.01 million) for 2023, up 20% from 2022.
    It said it expects its consolidated revenue to grow to
around 1 billion euros in 2026, from 904.7 million euros in 2023
and its adjusted earnings before interest, taxes, depreciation
and amortisation (EBITDA) margin to edge up to around 17% in
2026, from 16.8% in 2023.

($1 = 0.9152 euros)


($1 = 0.9175 euros)

 (Reporting by Philippe Leroy Beaulieu; Editing by Susan Fenton)
 ((Philippe.LeroyBeaulieu@thomsonreuters.com;))