Relx hikes dividend, announced £500m share buyback
RELX plc
2,379.00p
16:47 26/01/23
Information provider Relx lifted its dividend by 6% and announced a £500m share buyback on Thursday as it said it expected 2022 growth in underlying profit and revenue to be ahead of historical trends.
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The company, previously called Reed Elsevier, posted an annual underlying revenue rise of 7% to £7.24bn as adjusted operating profit increased 13% to £2.2bn.
Pre-tax profit rose to £1.89bn from £1.48bn in the year to December 31 and the company proposed a 6% increase in the full-year dividend to 49.8 pence per share
"Following the improved performance in 2021 across the company, we expect 2022 full-year underlying growth rates in revenue and adjusted operating profit, as well as constant currency growth in adjusted earnings per share, to remain above historical trends," Relx said.