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Hipgnosis Songs raises dividend after annual earnings jump

July 5 (Reuters) - Hipgnosis Songs Fund, the owner of the rights to artists including Neil Young and Shakira, reported a jump in annual earnings and raised its dividend on Monday, boosted by consumers streaming music online during the COVID-19 lockdowns.

The company’s pretax profit rose to $44.5 million for the 12 months ended March from $41.5 million a year earlier, and it raised its annual dividend target by 5% to 5.25 pence per a share.

Reporting by Muvija M in Bengaluru; Editing by Amy Caren Daniel

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