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Telecom Italia Scraps Dividend to Save Cash as Losses Mount

2014-03-07 14:10:25| Telecom - Topix.net

Telecom Italia SpA, trying to conserve cash as competition in Italy's phone market hurts earnings, scrapped its dividend for common shares for the first time in its history as a public company.

Tags: save cash italia mount

 

Telecom Italia scraps 2013 dividend, meets debt target

2014-03-07 09:57:00| Telecompaper Headlines

(Telecompaper) Telecom Italia reported a full-year net loss of EUR 674 million in 2013, the third straight annual deficit, as sales fell 9.1 percent to EUR 23.41 billion. The full-year result reflected goodwill writedowns of EUR 2.2 billion made in the first half of the year, without which the group profit would have been EUR 1.5 billion. EBITDA for the year fell EUR 985 million to EUR 9.54 billion with the EBITDA margin coming in at 40.8 percent. The company confirmed that it had met its debt target of EUR 27 billion, having cut debt by EUR 1.48 billion to EUR 26.81 billion, after selling assets including its stake in Telecom Argentina. It also scrapped its dividend for ordinary shares for the first time in its history as a public company, but confirmed that it will pay a dividend of EUR 0.0275 on its saving shares and will remunerate all shareholders next year as it expected a smaller decline on its domestic revenue in 2014. In Italy revenues fell by 9.6 percent to EUR 16.18 billion, affected by cuts to mobile termination rates that came into force in July 2013, intense competition and a worsening economic outlook. EBITDA dropped 10.7 percent to EUR 7.74 billion, while EBITDA margin came in at 47.9 percent, 0.6 percent down on 2012. However, there were signs of recovery in the fourth quarter of 2013, with revenues dropping 7.7 percent to EUR 4.11 billion, compared to drops of 9.1 percent in the third quarter and 10.5 percent in the first quarter of 2013. 

Tags: target italia debt meets

 
 

Telecom Italia scraps dividend as full-year loss narrows

2014-03-07 01:00:00| Total Telecom industry news

CEO 'hopeful' about 2014 as operator's net debt edges below 27 billion.

Tags: loss italia telecom dividend

 

Dividend Investing At Work - February 2014

2014-03-06 13:40:40| Railroads - Topix.net

For instance, this February, no less than nine of my holdings, about a third of them, increased their dividends.

Tags: work february investing dividend

 

Linamar Corp. ups dividend 25% after 'record' year for sale, earnings

2014-03-06 04:50:44| Real Estate - Topix.net

Linamar Corp. is increasing its dividend by 25 per cent after what the manufacturer of precision engineered products says was a record year on a number of fronts.

Tags: year sale record ups

 

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