Independent News & Media may renew shareholder payout

Independent News & Media (INM) is expected to reward shareholders with a special dividend next year and commit to a sustainable dividend policy for the first time in nearly a decade.

“We see many catalysts in the near future with potential for capital returns and a rerating as structural concerns ease,” Merrion Capital analyst, Darren McKinley said yesterday in reaction to a positive trading update from INM.

That update showed a first revenue increase in eight years, with total group revenues up 1.1%, on a year-on-year basis, in the 10 months to the end of October.