Universal Music's Targets Leave Open Question on Dividend Policy -- Market Talk

Dow Jones09-17 17:31

0931 GMT - Universal Music Group's financial targets through the end of 2028 leave open the question of whether the record label will commit to its dividend policy of handing out 50% of annual net income to shareholders, Citi analysts write in a note to clients. The company set long-term targets for revenue, adjusted Ebitda and free cash flow, but the analysts point out that formal dividend guidance wasn't reiterated. "It will be interesting to see whether this is reconfirmed during the day itself," the analysts note in reference to Universal's Capital Markets Day event in London. Universal Music shares trade 3.7% higher at 24.26 euros. (mauro.orru@wsj.com)

(END) Dow Jones Newswires

September 17, 2024 05:31 ET (09:31 GMT)

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