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 Assembly.
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.