October 04, 2024 06:29 GMT
COMMUNICATIONS: Cellnex CEO Indicates Dividends To Resume A Year Early
COMMUNICATIONS
BBB-/BBB-
Not a lot of additional detail; the article doesn’t seem to yet be visible on the Il Sole 24 Ore website. Cellnex’s performance has slowed in recent months as focus shifts to shareholders in the wake of their ratings upgrade. Credit negative in and of itself though the shift in focus has been flagged (the Austria deal is also to be used for payouts) and the issuer remains committed to its new IG rating.
- Cellnex will resume dividend payments in 2025, a year earlier than planned (original target: 2026).
- CEO cites completion of 40 acquisitions in 12 countries, stating it’s time to return value to shareholders.
- Payments will represent a "material" portion of shareholder remuneration.
- No specific figures on dividend amount or cash flow impact disclosed yet.
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