Rightmove PLC (LSE:RMV) has strengthened its dividend after growing revenue and underlying profit last year and signalling further strength into 2025 on the likes of interest rate cuts.
A 6.1p per share final dividend was unveiled in results on Friday, taking the full-year payout to 9.8p and up 5%.
Underlying operating profit had increased 4% to £273.9 million over the year to December 31, the property portal said, on a 7% rise in revenue to £389.9 million.
Revenue growth of 8% to 10% was expected over the coming year, it added, as housing market conditions looked to improve.
Reduced interest rates by the Bank of England had fed through to the mortgage market, while resales had exceeded pre-pandemic levels as completions appeared to catch up.
Supply and demand was also said to be rebalancing “slightly” in the lettings market.
“We delivered strong results, demonstrating yet again the resilience of Rightmove's business model,” chief executive Johan Svanstrom said.
“We have a clear strategy to further digitise the home moving market, powered by the UK's largest set of property data and insights.”