Television New Zealand is to pay the Government a dividend of $4.87 million, after making a profit last financial year.
Last year's dividend was $1.47 million.
The company has reported total revenue of $355.5 million in the year to June. Advertising revenue was $284.3 million after a $14 million previous loss.
Underlying earnings rose to $13 million, almost $3 million more than the previous financial year.
The company also shed staff to save $40 million.