Deutsche Telekom cuts dividend to 0.50 eur/shr

FRANKFURT Thu Dec 6, 2012 11:51am EST

FRANKFURT Dec 6 (Reuters) - Deutsche Telekom cut its dividend for the next years to create room for investments in its home market.

The company said it would pay a dividend of 0.50 euros per share for both 2013 and 2014, down from 0.70 euros per share pledged for 2012.

Analysts currently on average expect a dividend of 0.60 per share for 2013, and 0.58 for 2014, according to Reuters data.

They had been anticipating a dividend cut. In the past 30 days, 12 out of 30 analysts tracking the stock had downgraded their estimate by an average 14 percent.