BT Group PLC (LSE:BT.A) reinstalled its final dividend as it reported lower revenue and higher-than-expected underlying profits for the past year.
The FTSE 100 telecoms group reported a 2% fall in revenue to £20.9bn but a 2% increase in underlying profit (EBITDA) to £7.6bn as management continued to take an axe to costs.
Chief executive Philip Jansen hailed infrastructure arm Openreach's roll-out continuing "like fury", with 7.2mln premises connected to high-speed broadband and the 5G network now covering more than 50% of the UK population.
He said the TV media content is being strengthened with the newly sealed joint venture deal with Warner Bros Discovery.
A final dividend of 5.39p per share adds to the 2.31p paid at the half-year point and delivers on Jansen's pledge to return a rebased payment.
Management is also extending its cost savings target of £2bn by end of the 2024 year to £2.5 billion by the end of 2025.