Telekom Austria Cuts Dividend

Companies ♦ Published: December 16, 2011; 17:40 ♦ (Vindobona)

The Austrian telecommunication company will pay a dividend of € 0.38 per share in the years 2011 and 2012.

Telekom Austria Cuts Dividend / Picture: © Telekom Austria Group

Today, the Telekom Austria Group announced that it lowers its dividend floor for the years 2011 and 2012 from € 0.76 per share to a dividend of € 0.38 per share. As of 2013, the payout ratio remains at 55% of free cash flow to the extent that the dividend does not lead to a deterioration of Group equity.

This follows as an adverse macro-economic environment as well as highly…