APN News and Media has paid a dividend for the first time in five years after it slashed its full-year loss to $6 million following a restructure.
Shareholders will receive a fully franked dividend of 4.0 cents after APN cut its net loss for the 12 months to December 31 from $10 million a year ago.
APN, which has offloaded traditional publishing assets and is focusing on outdoor media and radio, said revenue dropped 23 per cent to $657.7 million.
But revenue from continuing operations was up 15 per cent to $298.6 million and earnings rose 14 per cent.
"APN has successfully executed on its plan of completely exiting traditional publishing, and increasing its exposure to the high growth out-of-home sector," chairman Peter Cosgrove said.
"APN is in terrific shape: we have strengthened the balance sheet and our confidence in the future is demonstrated by the recommencement of dividends for the first time since 2012."
APN declared a final dividend of four cents a share, fully franked.
In the past year, APN demerged its New Zealand media business, acquired the 50 per cent of outdoor advertiser Adshel it did not already own, bought website designer Conversant Media and sold its Australian Regional Media assets.
APN'S TRANSFORMATIONAL YEAR
* Net loss down 41pct to $6.0m
* Revenue down 23pct to $657.7m
* Final dividend 4.0 cents, fully franked. No 2015 dividend.
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