March 26, 2020 / 1:00 PM / 12 days ago

BRIEF-STV Group No Longer Recommending A FY Final Dividend Of 14.7p Per Share

March 26 (Reuters) - STV Group PLC:

* TRADING UPDATE

* NO LONGER RECOMMENDING A FINAL DIVIDEND OF 14.7P PER SHARE (FINANCIAL YEAR ENDED 31 DECEMBER 2019)

* TAKEN STEPS TO REDUCE COSTS AND CASH COMMITMENTS

* HAS GOOD ONGOING ACCESS TO LIQUIDITY THROUGH ITS £60M OVERDRAFT AND REVOLVING CREDIT FACILITY

* NATIONAL PROGRAMMING COSTS WILL REDUCE IN LINE WITH ANY REDUCTION IN REVENUES

* IDENTIFIED A FURTHER £2M OF OTHER COST SAVINGS ACROSS BUSINESS FOR 2020

* NET DEBT WAS £37.5M AT END OF 2019 AND IS EXPECTED TO BE C.£38M AT END OF MARCH 2020

* BROADCAST CHANNEL CONTINUES TO PERFORM VERY STRONGLY

* INCREASED RESTRICTIONS ON WORKING PRACTICES ARE HAVING A SIGNIFICANT IMPACT ON WHOLE TV PRODUCTION SECTOR

* HAVE PAUSED FILMING ON ANTIQUES ROAD TRIP AND CELEBRITY ANTIQUES ROAD TRIP

* PROFIT IMPACT ON STV IS LIKELY TO BE LIMITED FOR FULL YEAR Source text for Eikon: Further company coverage:

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