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TP cuts dividend, capex as revenue drop accelerates
2013-02-12 14:53:00| Telecompaper Headlines
(Telecompaper) Polish operator Telekomunikacja Polska saw its Q4 revenues drop 6.4 percent year-on-year to PLN 3.484 billion. Mobile segment revenues decreased 6.3 percent to PLN 1.815 billion, while fixed segment revenues declined by 2.8 percent to PLN 1.990 billion. EBITDA was PLN 1.003 billion, down by 19.6 percent compared to Q4 2011, while the EBITDA margin dropped by 4.7 percent to 28.8 percent. Net free cash flow decreased by 44.4 percent to PLN 509 million, and net income fell 85.8 percent to PLN 51 million. After a 4.1 percent fall in revenue over the full year, TP said it anticipates a steep decline in revenue again in 2013, driven by further MTR cuts, as well as the ongoing price war in the mobile market. TP said it will significantly accelerate its cost savings measures and does not exclude outsourcing or asset disposals as a means to increase efficiency. Capex will be less than PLN 2 billion in 2013, with the view to bringing it down to 12-13 percent of revenues in future. TP said it's also committed to preserving financial strength by keeping its net gearing below 40 percent and the net debt to EBITDA ratio below 1.5x. In this context, recognising the market volatility and potential new capital requirements, it decided to take a more cautious position with regards to shareholder remuneration. The company aims to pay a dividend of at least PLN 0.5 per share in mid-2013, down from PLN 1.50 last year.
Tags: drop
revenue
cuts
dividend
Quarterly Dividend of $0.10 Planned by Forward Air
2013-02-12 03:49:18| Trucking - Topix.net
Forward Air declared a quarterly dividend on Monday, February 11th. Stockholders of record on Friday, March 8th will be given a dividend of $0.10 per share on Friday, March 22nd.
Tags: air
forward
planned
quarterly
Quarterly Dividend of $0.10 Planned by Forward Air
2013-02-12 02:15:13| Logistics - Topix.net
Forward Air declared a quarterly dividend on Monday, February 11th. Stockholders of record on Friday, March 8th will be given a dividend of $0.10 per share on Friday, March 22nd.
Tags: air
forward
planned
quarterly
Telecom Italia cuts dividend to boost investments
2013-02-11 08:58:00| Telecompaper Headlines
(Telecompaper) Telecom Italia announced it will cut dividend payments to EUR 450 million a year until 2015, in order to continue investing in the fixed and mobile operations in Italy and mobile services in Brazil. The company will also issue up to EUR 3 billion in hybrid subordinated debt securities in the next 18-24 months to strengthen its balance sheet. In its new strategic plan, the Italian operator targets stable revenues and a smaller decline in EBITDA this year, with net debt cut to less than EUR 27 billion by year-end. In the period to 2015, the aim is a low single-digit CAGR in sales and EBITDA and cumulative capex of EUR 16 billion over the three years. By the end of 2015, adjusted net debt should be less than two times EBITDA. In Italy, the focus will be on expanding the LTE and FTTC networks, as well as implementing another EUR 1.6 billion in cost reductions over the period.
Tags: italia
investments
telecom
cuts
My 4 Favorite Stocks with Dividend Growth from Last Week
2013-02-11 06:35:33| Toys - Topix.net
Last week was a great week with some attractive dividend hikes. In total, 63 stocks and funds raised dividends of which 41 have a dividend growth of more than 10 percent.
Tags: last
week
favorite
growth
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