Atea - changed dividend policy
Atea has a solid financial position as a result of
strong earnings performance over time and an ability
to convert these earnings into free cash flow.
Atea's policy today is to distribute 70-100 per cent
of net profits adjusted for normalized tax. In order
to align the policy to Atea's strong cash flow and
the strong financial position the Board of Directors
has decided to change the policy to be linked to cash
flow rather than earnings. Going forward the Board of
Directors has decided to distribute 70-100 per cent
of cash flow from operations after capex.
For 2012 the Board of Directors will propose a
dividend of NOK 5.50 per share to the Annual General
Atea will continue to invest in the business and look
for attractive acquisition opportunities, utilizing
the strong balance sheet while striving to retain a
competitive dividend distribution.
For further information, please contact:
Rune Falstad, CFO Atea ASA, mobile +47 906 14 482
Atea is the leading Nordic and Baltic supplier of IT
infrastructure with approximately 6,300 employees.
Atea is present in 82 cities in Norway, Sweden,
Denmark, Finland, Lithuania, Latvia and Estonia. Atea
delivers IT products from leading vendors and assist
its customers with specialist competencies within IT
infrastructure services. Atea had revenue of
approximately NOK 21 billion in 2012 and is listed on
Oslo Stock Exchange. [http://www.atea.com]