Arabnews24.ca:Wednesday 22 March 2023 02:41 PM: Audioboom, the London-listed podcasting group, is drawing up plans to pay a maiden dividend amid continued growth in the sector.
Sky News has learnt that the company has been weighing proposals for an inaugural payout to shareholders for its current financial year.
It was unclear whether the plans would be outlined alongside full-year results due to be published in the near future.
Audioboom, which has seen its shares plummet by more than 75% over the last year, has a market value of £68m.
The company, which ranks as the US's fifth-largest Podcast Publisher, produces shows which are downloaded more than 130m times every month.
It has 34m unique listeners globally, according to one analyst who follows Audioboom.
The best-known podcast titles on its platform include No Such Thing As A Fish, Murder Mystery Make-Up and Two Hot Takes
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It also boasts a multiyear partnership which sees it producing official Formula One motor racing content.
If its plans to declare an inaugural dividend are confirmed, the payout would take place next year.
Audioboom has explored a sale on several occasions, including in 2020, when it was valued by the stock market at just £24m.
The company could not be reached for comment on Wednesday.