London Stock Exchange moves ahead with integrating Refinitiv
LONDON - London Stock Exchange Group posted steady full year results for 2020 on Friday, announcing a 7% dividend increase as integration of its $27 billion acquisition of data and analytics company Refinitiv stepped up a gear.
The exchange said that its FTSE Russell stock indexes business in Britain and most of its other information services will be slotted into a newly formed data and analytics division, as data eclipses the group's trading operations.
"While early days, the work we have done so far confirms the quality of the business and the extent of the opportunities across the group as we focus on integration and delivering the strategic and financial benefits of the transaction," LSE chief executive David Schwimmer said in a statement.
Revenue at the company grew 3% in 2020 to hit 2.1 billion pounds ($2.92 billion), driven by growth in its FTSE Russell and clearing businesses. Adjusted operating profit was up 5% at 1.1 billion pounds.
LSE said it would pay a final dividend of 51.7 pence a share as a reflection of the "good performance and confident outlook" for the new group".
Thomson Reuters, the parent company of Reuters News, now holds a 15% stake in the exchange following the Refinitiv deal.
