May 14, 2020 / 8:07 AM / in 16 days

Deutsche Telekom CEO: Business is strong, we stand by our dividend

BERLIN (Reuters) - Deutsche Telekom (DTEGn.DE) stands by its proposed dividend for 2019 of 0.60 euros ($0.65), CEO Tim Hoettges said on Thursday, saying the payout was fully covered by earnings and the business remained strong despite the coronavirus pandemic.

“Because the business performed well in the last year and continues to do so, we are not calling the dividend into question,” Hoettges said in remarks prepared for delivery to a news conference on the company’s first-quarter results.

Hoettges also highlighted Deutsche Telekom’s plans to deliver 5G mobile services to half of the German population - or more than 40 million people - this year. It expects to cover 99% of the population by mid-decade.

Reporting by Douglas Busvine; editing by Thomas Seythal

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