REA Group Surges on Record Dividend and Strong FY24 Earnings Growth

Highlights:

• REA Group Ltd (ASX: REA) surged 6.78% to AU$254.12 after announcing a record final dividend of AU$1.38 per share.
• The company reported double-digit growth in revenue and earnings, driven by strong property listings and digital advertising demand.
• Management remains optimistic, with plans to further expand digital services and AI-driven property insights in FY25.

Shares Hit New High Following $1.38 per Share Dividend Announcement

REA Group Ltd (ASX: REA) shares jumped 6.78% to AU$254.12 at the time of writing, after the digital real estate giant announced a record final dividend of AU$1.38 per share. The strong investor reaction comes on the back of impressive full-year financial results, with the company reporting double-digit increases in both revenue and earnings for the fiscal year.

Robust Growth in Listings and Digital Advertising

The company’s revenue growth was fuelled by a solid uplift in property listings, especially in the premium and developer segments. Additionally, REA’s digital advertising solutions witnessed heightened demand, reflecting continued strength in Australia’s online real estate market. The company’s strategic focus on enhancing customer experiences through digital innovation further bolstered its market-leading position.

Market Cheers Earnings Momentum

At the time of writing, REA Group’s share price had risen by AU$16.14, or 6.78%, marking one of its strongest single-day gains in recent months. The announcement of the AU$1.38 dividend, the highest in the company’s history, signals robust cash flows and management’s confidence in sustained earnings momentum.

Optimistic Outlook on Digital Expansion

REA Group’s leadership expressed optimism about the future, highlighting ongoing investments in AI-driven property insights and new digital services to enhance user engagement. The company also noted that favourable market dynamics and a growing pipeline of listings would continue to support its revenue growth trajectory in FY25.

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