BSkyB commits to dividend pay-out

James Murdoch, the new chief executive of British Sky Broadcasting PLC, has promised that the company will resume dividend payments after a five-year gap.

Murdock 30, whose appointment to chief executive has been overshadowed by dissatisfaction from some investors, told the Financial Times that BSkyB was committed to a pay-out for the first time since 1998.

His comments form part of an effort to assure worried shareholders who have expressed concerns about the selection process.

His father Rupert Murdock is the Chairman of the company.

They fear that his appointment as chief executive will compromise BSkyB's independence from News Corp, his father's media group which owns 35.4% of BSkyB.