Fairfax Media Limited (ASX:FXJ) has suggested that a higher dividend payments could be likely after the media group finalises its proposed asset sales.
Fairfax has unveiled plans to partially float its New Zealand online auction business, Trade Me website, and is also looking to sell its Australian radio stations.
In the company’s annual report chairman, Roger Corbett, has confirmed after at least one of the transactions is complete the dividend payout ratio will be revisited.
The report also revealed that the company’s former media chief, Brian McCarthy, took home $3.17 million when he left the company at the end of last year.
In the 2011 financial year Fairfax Media swung from a profit to a net loss of $390 million, pulled down by a $650 million impairment charge.
