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Tele2 raises outlook, brings forward dividend review after Q3 profit beat
October 19, 2017 / 6:02 AM / a month ago

Tele2 raises outlook, brings forward dividend review after Q3 profit beat

STOCKHOLM, Oct 19 (Reuters) - Swedish telecoms operator Tele2 reported on Thursday forecast-beating quarterly core profits and flagged that strong cash flow could mean it will raise its dividend sooner than planned as well as carry out a one-off payout to shareholders.

“Our board of directors will now review our dividend policy for 2018 and beyond in connection with our full-year results,” Tele2 Chief Executive Allison Kirkby said.

“With the balance sheet strength we are now seeing, and dependent on the closing of the sale of Tele2 Austria, we will also review means beyond the ordinary dividend to return these proceeds to shareholders.”

Profit before interest, tax, depreciation and amortisation (EBITDA) grew to 1.85 billion crowns ($227 million) from a year-ago 1.52 billion, against a Reuters poll forecast of 1.66 billion.

Tele2 also raised its full-year guidance, saying it now saw EBITDA at between 6.4 billion to 6.6 billion crowns, up from the 6.2 billion to 6.5 billion range seen previously.

$1 = 8.1425 Swedish crowns Reporting by Anna Ringstrom; editing by Niklas Pollard

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