Investor cheer as STV brings back dividend

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Scottish broadcaster STV delivered a welcome boost to long-suffering investors as it revealed plans to resume shareholder dividend payments for the first time in seven years.

The group, which broadcasts programmes including Coronation Street, to more than four million TV viewers each month, said it aimed to pay a full-year dividend for 2013 – its first since 2006 – after growing profits and revenues in the first half.

It also announced its productions arm had secured a further commission for 12 episodes of Catchphrase for ITV after the game show was revived in April with a well-received new series fronted by host Stephen Mulhern.

STV posted a 5 per cent hike in underlying pre-tax profits to £6.7m.