CentralNic has started paying a dividend and has announced another share buyback as it focuses less on aggressive M&A and more on organic growth.
The company, which makes about a quarter of its revenue from domains, said it will spend £4 million of its cash reserves buying back shares between now and August and will pay a £0.01 dividend a month from now.
The news came as CentralNic confirmed its top line grew by 24% in the first quarter, to $194.9 million, driven largely by its traffic arbitrage business, which it calls Online Marketing.
Its revenue from Online Presence — domains and such — was up 14% at $45.2 million, and its number of domain-years processed was up 2% at 12.4 million. The company sells both as registry, registrar and back-end.
Overall, adjusted EBITDA was up 15% at $21.3 million.