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Vimpelcom cuts dividends as growth slows
2014-01-28 14:14:00| Telecompaper Headlines
(Telecompaper) Vimpelcom announced it will not pay a final dividend for 2013 and reduce dividends for 2014, as it focuses on debt reduction and investment in the face of difficult economic and regulatory conditions in its markets. The company paid an interim dividend of USD 0.45 per share in 2013 and previously pledged a pay-out of USD 0.80 per share annually. From 2014, it aims to pay an annual dividend of USD 0.035 per share until its reduces net debt to less than two times annual EBITDA. The announcement was made at a strategy meeting with analysts in London where Vimpelcom updated its medium-term targets and issued new guidance for 2014. This year it targets stable revenue and EBITDA, net debt at around 2.3x EBITDA by year-end, and capex excluding licences at 21 percent of revenue. At the same meeting a year ago, it issued forecasts for the period 2013-2015 of a mid single-digit CAGR in revenue and EBITDA, net debt below 2x EBITDA by the end of 2015, and capex, excluding licences, of less than 15 percent of revenues by 2015.
Tags: growth
cuts
dividends
slows
Lloyds Banking Group cuts 1,080 jobs
2014-01-28 13:43:19| BBC News | Business | UK Edition
Lloyds Banking Group plans to axe 1,080 jobs and outsource more than 310 roles as part of a continuing overhaul of the business.
Hormel bacon plant cuts 75 jobs in Minnesota, relocating operation to Iowa
2014-01-26 09:06:59| Food - Topix.net
Tony Downs Foods, which makes bacon bits for Austin, Minn.-based Hormel Foods, is closing its St. James.
Six months of job cuts underway at Sprint
2014-01-24 01:00:00| Total Telecom industry news
U.S. mobile operator to recognise $165 million charge in Q4 results as a result of workforce reduction plan.
Interconnect Fabric IP cuts SoC development time.
2014-01-23 14:30:13| Industrial Newsroom - All News for Today
Embedded within FlexNoC interconnect IP fabric, FlexNoC Composition feature allows SoC architecture to be subdivided for implementation by various specialist design teams, each working independently on their own subsystem. Once all subsystems are complete, each can be integrated into one complete full chip-level FlexNoC interconnect fabric without requiring bridges. Unlike hybrid bus or crossbar, FlexNoC Composition re-connects each subsystem seamlessly through specialized low-latency protocol. This story is related to the following:Central Processing Unit (CPU), Intellectual Property (IP), Microprocessor & Processor Cores
Tags: time
development
fabric
cuts
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