May 24, 2018 / 5:03 AM / in a month

Deutsche Telekom extends mid-term guidance, pledges higher dividends

LONDON, May 24 (Reuters) - Deutsche Telekom on Thursday reiterated and extended its mid-term guidance through 2021, promising dividend hikes as its switches the basis on which they are calculated to adjusted earnings per share from free cash flow.

In a statement ahead of a two-day investor presentation in Bonn, Europe’s largest telecoms firm said it expected revenues to rise by 1-2 percent per year from 2017 to 2021, adjusted core profits by 2-4 percent and free cash flow by 10 percent.

It plans to pay a dividend for the current business year of 0.70 euros ($0.82), up from 0.65 euros last year. Thereafter, payouts would be tied to adjusted earnings per share that are expected to rise to 1.20 euros in 2021 from 1.00 euro this year.

The company would also consider share buybacks, it said. ($1 = 0.8541 euros) (Reporting by Douglas Busvine Editing by Victoria Bryan)

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