BSkyB announces new buyback after strong year

LONDON, July 26 Fri Jul 26, 2013 2:12am EDT

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LONDON, July 26 (Reuters) - BSkyB announced a new 500 million pound ($766 million)share buyback on Friday as it released fourth quarter results showing the group in fighting spirits ahead of its pending pay-TV battle with telecoms giant BT.

Britain's dominant pay-TV group also hiked its full-year dividend by 18 percent.

That capped off full-year results which showed adjusted operating profit up 9 percent to 1.3 billion pounds, helped by an increase in the amount customers are willing to pay to an average 577 pounds per year.

The results for the period until the end of June are the last set before deep-pocketed rival BT launches its new sports TV service in August.

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