Telenet.be
 
 
 
 

Investment Proposition

 
 

Shareholder Remuneration Policy

Shareholder Remuneration Policy

Shareholder Disbursements

Date(1) Shareholder Disbursements
May 3, 2023 (*) €1.00 per share
(gross dividend)
May 2, 2022

€1.3750 per share
(gross final dividend)

December 6, 2021 €1.3750 per share
(gross intermediate dividend)

May 3, 2021

€1.3750 per share
(gross final dividend)

December 4, 2020

€1.375 per share
(gross intermediate dividend)

May 2, 2020

€1.3050 per share
(gross final dividend)

December 5, 2019

€0.57 per share
(gross intermediate dividend)

October 2, 2018

€5.30 per share
(gross extraordinary dividend)

May 3, 2013

€7.90 per share
(gross extraordinary dividend)

May 7, 2012

€1.00 per share
(gross dividend)

August 28, 2012

€3.25 per share
(net capital reduction)

July 26, 2011

€4.50 per share
(net capital reduction)

July 28, 2010

€2.23 per share
(net capital reduction)

August 27, 2009

€0.50 per share
(net capital reduction)

November 19, 2007

€6.00 per share
(net capital reduction)

1 All dates refer to ex-dividend dates
(*) Subject to board and shareholder approval

Shareholder Remuneration Policy

Mid-June 2022, we entered into a binding agreement with Fluvius to take a joint next step in the realization of the 'data network of the future'. Both companies’ ambition is to provide speeds of 10 Gbps across the entire footprint in time, for which there is a clear roadmap.

In order to maintain a consolidated net total leverage of around 4.0x throughout the CAPEX-intense build period, in line with Telenet’s leverage policy, the board of directors has decided to reset the Company’s shareholder remuneration policy, effective immediately. The consolidated 4.0x leverage target provides Telenet with additional financial flexibility for prospective value-accretive strategic opportunities going forward.

Over the 2023-2029 period, the board of directors decided upon an annual dividend floor of €1.0 per share (gross) to be paid annually in early May following shareholder approval at the statutory AGM in April. As such, the board of directors ensures a balanced approach with continued regular dividends whilst investing for future growth. After this build period, including 5G roll-out, the CAPEX intensity is expected to materially decrease and return to normalized historical levels, leading to substantial Adjusted Free Cash Flow growth and providing scope for significantly higher shareholder disbursements. At that point time, the shareholder remuneration plan will be re-evaluated by the board of directors.

For more details on the (extra)ordinary dividends paid by the Company and the Share Repurchase programs since 2018, we refer to the chart below in € million.

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