Get real time updates directly on you device, subscribe now.
OTE refers to the investments of more than 3 billion euros that it will make in a five-year period, in a relevant announcement, while emphasizing that despite the increasing investments, it will provide a regular total remuneration to the shareholders at least equal to 2021.
In particular, as noted in the announcement, OTE decided to expand and accelerate the development of the fiber optic network to reach 3 million homes and businesses by 2027 with fiber optic technology to the home (FTTH). The development of the FTTH network is a significant investment that will contribute to the future of the country and will ensure the long-term performance and competitiveness of OTE in the coming decades. As a result, investments will increase compared to the recent past, averaging around € 100 million per year, financed by organic cash flows.
The same announcement notes that in the coming years OTE will continue to offer an attractive fee to its shareholders, divided between dividends and repurchase of own shares. Dividends are expected to be normalized during this period to avoid large fluctuations and to address any deficits. To this end, the surpluses created in the period 2018-2021 will be incorporated in the annual cash flows in the coming years, to support the overall remuneration policy of shareholders in the coming years.
In 2022, despite the increasing investments, OTE expects to provide a regular total remuneration to shareholders at least equal to 2021, after the necessary corporate approvals. The Board of Directors will determine the shareholders’ remuneration policy for 2022 as well as for the following years on February 23, 2022, together with the approval of the 2021 financial statements.
Read also:
Source From: Capital