NZ's media firm NZME hits 1-week high on full-year outlook

NZME

09/11/2022 01:13

** Shares of New Zealand's NZME Ltd  NZM.NZ  rise as much as
3.5% to NZ$1.19, their highest since Nov 3
    ** The media firm sees EBITDA in range of NZ$64 mln ($38.09
mln) to NZ$67 mln for year ended Dec  urn:newsml:reuters.com:*:nNZSb8ma
    ** Co expects FY22 advertising revenue to return to
pre-pandemic levels 
    ** Board will also consider undertaking a further on-market
share buyback programme during 2023
    ** Co further intends to increase dividend payout ratio to
50-80% of free cash flow
    ** NZME stock down 16.1% this year, as of last close
     ($1 = 1.6801 New Zealand dollars)
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))