The Tele2 Board withdraws its proposal regarding extraordinary dividend
Stockholm – The Board of Directors of Tele2 (“Tele2”) (Nasdaq Stockholm: TEL2 A and TEL2 B) withdraws the proposed extraordinary dividend of SEK 3.50 per share until there is more visibility on the impact of the global pandemic. The Board’s proposal of an ordinary dividend of SEK 5.50 per share to the 2020 Annual General Meeting remains unchanged.
While Tele2 has a strong balance sheet and a resilient business model which is cash generative even in volatile times, the global pandemic creates uncertainty. The Board believes that it is prudent to maintain a financial buffer until there is more clarity on the length and impact of the outbreak. Consequently, the Board has decided to withdraw its proposal to the Annual General Meeting in May 2020 on distribution of the extraordinary dividend of SEK 3.50 per share, and postpone the decision.
Once there is more clarity on the impact of the pandemic, the Board expects to call for an Extraordinary General Meeting to approve distribution of an extraordinary dividend of SEK 3.50 per share.
The Board’s proposal of an ordinary dividend of SEK 5.50 per share to the Annual General Meeting remains unchanged.
The Annual General Meeting will be held on Monday 11 May 2020 at 15.00 CEST at Tele2’s premises on Torshamnsgatan 17 in Kista, Stockholm. The doors open for shareholders at 14.40 CEST.
For more information, please contact:
Joel Ibson, Head of Corporate Communications, Phone: +46 766 26 44 00
Marcus Lindberg, Head of Investor Relations, Phone: +46 73 439 25 40
This information is information that Tele2 AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 07:00 CEST on 21 April 2020.
Tele2’s vision is to be the smartest telco in the world, creating a society of unlimited possibilities. Ever since Tele2 was founded in 1993, we have continued to challenge prevailing norms and dusty monopolies. Today, our award winning networks enable mobile and fixed connectivity, telephony, data network services, TV, streaming and global IoT solutions for millions of customers. We drive growth through customer satisfaction and smart combined offerings. Tele2 has been listed on Nasdaq Stockholm since 1996. In 2019, Tele2 generated revenue of SEK 28 billion and reported an underlying EBITDAaL of SEK 9 billion. For latest news and definitions of measures, please see our homepage www.tele2.com.
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