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Telenor increases dividend 20% after solid 2012
2013-02-13 09:12:00| Telecompaper Headlines
(Telecompaper) Telenor announced a 20 percent increase in its dividend and plans to boost capex in 2013. The Norway-based operator will pay a dividend of NOK 6 per share for 2012, up 20 percent after a strong set of annual results. The company's organic sales growth for the year came in at 5 percent, better than the forecast 4 percent, driven by subscriber growth in Asia and demand for smartphones and mobile data services in the Nordic markets. The adjusted EBITDA margin fell slightly short at 32 percent, versus a target of 35-36 percent. Telenor forecast revenue growth of 3-5 percent this year and an EBITDA margin around 34 percent, while capex will accelerate to 12-14 percent of revenues, from 12.1 percent in 2012 as the company looks to build share in some markets. In the fourth quarter, Telenor recorded a 5 percent organic increase in sales to NOK 25.99 billion, and adjusted EBITDA rose to NOK 8.18 billion from NOK 7.42 billion a year earlier. The net result moved to a profit of NOK 3.19 billion from a loss of NOK 2.71 billion thanks to a bigger contribution from Telenor's stake in Vimpelcom. Operating cash flow rose to NOK 4.61 billion from NOK 3.78 billion a year ago.
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