The Euskaltel Group will pay out an interim dividend of Euros 0.14 per share on 7 February
Bilbao, 31 January 2019. At its meeting on 31 October 2018 the Euskaltel Group's Board of Directors agreed the date of 7 February 2019 for the payment of a gross interim dividend of Euros 0.14 per share outstanding with dividend rights, to be paid against 2018 results.
A total interim dividend amount of Euros 25 million will be paid by the operator to shareholders. The dividend distribution was agreed by the Euskaltel Group's Board of Directors on 31 October 2018.
This is the third consecutive year that a dividend has been paid out since the company was floated on the stock exchange in July 2015. Furthermore, this dividend distribution demonstrates the Group's commitment to its shareholders and reinforces the objective to add value to investors.
Francisco Arteche, the Euskaltel Group's CEO comments: "At the Euskaltel Group we strive to generate value for the company and returns for our shareholders. We have met the challenges we had set over these years, enabling us to achieve a solid financial position and healthy balance sheet so that we can pay out this interim dividend against 2018 results, which we are finalising now and will present on 28 February".
Arteche added that the generation of value for shareholders will be sustainable in the medium to long term: "We foresee the possibility of double-digit dividend growth over the life of the strategic plan in place (up to 2022), thanks to sustainable operating cash flow (ebitda-capex) of above 30% of sales from 2020 onwards, which further reinforces our position as leader among European operators in terms of operating cash flow generation".
This will be the first dividend paid out by the Euskaltel Group to shareholders since it presented its current business plan, which will boost competitiveness in the years to come based on several strategic pillars, such as a return to growth in B2B (the business segment) thanks to a unified commercial strategy, new products and services, digital transformation, strategic alliances and global reach.
The final dividend to be paid against 2018 results will be determined at the General Shareholders' Meeting to be held in 2019 following a proposal from the Board of Directors.
Euskaltel - Communication Department
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comunicacion@euskaltel.com