Deutsche Telekom: shares fall 2.5% after dividend cut
(CercleFinance.com) - Deutsche Telekom fell sharply on Thursday after the company raised full-year guidance, but also said that it was cutting its dividend.
Third-quarter revenue grew by 4.8% to above the 20 billion-euro mark in a single quarter for the first time in the company's history.
At the same time, adjusted EBITDA rose 5.4% year-on-year to 6.5 billion euros.
Citing the positive trend of the last nine months, the group raised its full-year guidance, now expecting to report adjusted EBITDA of around 24.1 billion euros, up from the previous guidance of 23.9 billion euros.
But Deutsche Telekom also lowered its dividend outlook, with plans to pay a 2019 dividend of 60 cents per share on the back of the planned combination of T-Mobile US and Sprint.
Its share was down over 2.5% in Frankfurt after this announcement.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Third-quarter revenue grew by 4.8% to above the 20 billion-euro mark in a single quarter for the first time in the company's history.
At the same time, adjusted EBITDA rose 5.4% year-on-year to 6.5 billion euros.
Citing the positive trend of the last nine months, the group raised its full-year guidance, now expecting to report adjusted EBITDA of around 24.1 billion euros, up from the previous guidance of 23.9 billion euros.
But Deutsche Telekom also lowered its dividend outlook, with plans to pay a 2019 dividend of 60 cents per share on the back of the planned combination of T-Mobile US and Sprint.
Its share was down over 2.5% in Frankfurt after this announcement.
Copyright (c) 2019 CercleFinance.com. All rights reserved.