Thomson Reuters Guides FY21 Revenue Growth Above View; Boosts Dividend - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter on Tuesday, Thomson Reuters Corp. (TRI, TRI.TO) provided revenue and organic revenue growth guidance for the first quarter. It also initiated outlook for fiscal 2021, 2022 and 2023.

For the first quarter, the company expects revenue and organic revenue growth of 1.5 to 2.5 percent, primarily impacted by a decline in Global Print revenue of 13 to 15 percent.

Looking ahead, the company now projects total revenue growth and organic revenue growth of 3 to 4 percent for fiscal 2021, 4 to 5 percent for fiscal 2022, 5 to 6 percent for fiscal 2023.

On average, analysts polled by Thomson Reuters expect the company to report revenue growth of 3.3 percent to $2.87 billion for the quarter and revenue growth of 2.2 percent to $11.93 billion for fiscal 2021.

The Thomson Reuters Board of Directors also approved a $0.10 per share annualized increase in the dividend to $1.62 per common share. A quarterly dividend of $0.405 per share is payable on March 17, 2021 to common shareholders of record as of March 5, 2021.

Additionally, the company announced a two-year Change Program that will transition Thomson Reuters from a holding company to an operating company and from a content provider to a content-driven technology company. It is projected to require an investment of between $500 million and $600 million.