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UPDATE 1-Dutch cable group Ziggo ups dividend, marketing spend
January 24, 2013 / 7:36 AM / 5 years ago

UPDATE 1-Dutch cable group Ziggo ups dividend, marketing spend

(Adds details, background)

* 2012 adjusted core profit 880 mln euros

* To increase 2012 dividend to 290 mln euros from 220 mln

BRUSSELS, Jan 24 (Reuters) - Dutch cable operator Ziggo on Thursday added 70 million euros to its dividend for 2012 and forecast growing revenue and profit this year on the back of extra marketing spending.

Ziggo, which provides cable TV, broadband and telephone services, said it would pay out 290 million euros or 1.45 euros per share for last year, up from the 220 million it had announced in October.

It said it expected core profit to grow by 2.5 to 3.5 percent in 2013, with revenues increasing slightly ahead of this rate.

Ziggo, which has about 3 million customers in the Netherlands, said it would boost promotional spending in 2013 and spend more on new product lines.

The group, which initially teamed up with cable peer UPC at last year’s mobile frequency auction in the Netherlands, did not acquire spectrum because it believed the prices were too high.

The group recorded a 5.5 percent rise in 2012 adjusted core profit to 880 million euros ($1.17 billion).

Ziggo shares gained about a third over the course of 2012 after being floated in March. ($1 = 0.7530 euros) (Reporting by Robert-Jan Bartunek; Editing by David Cowell)

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