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Hipgnosis Songs Fund Ltd - Guernsey-registered music intellectual property investment and song management company - Declares interim dividend of 1.3125 pence per share for the April 1 to June 30 quarter, unchanged from last year. Hipgnosis targets paying an annual dividend of 5.25p, unchanged from last year. Also notes "positive tailwinds" due to the US Copyright Royalty Board's decision in the Phonorecords III proceedings in July. The decision confirmed and made retroactive the increase in mechanical streaming royalty rates for songwriters and publishers between 2018 and 2022.
Current stock price: 104.30 pence, up 2.5% in London on Wednesday
12-month change: down 15%
By Chris Dorrell; chrisdorrell@alliancenews.com
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