Topic: Cash Pay - Swiss Government Expects Swisscom to Pay Out 50% of Free Cash Flow - Cellular-News
ZURICH -(Dow Jones)- The Swiss government, which is the biggest shareholder of telecommunications firm Swisscom, said Wednesday it expects the company to pay out 50% of its free cash flow as dividends to shareholders going forward. On top of this, funds that aren’t necessary for ensuring the company’s strategic flexibility may also be paid back to shareholders, the government said. Earlier Wednesday, Swisscom reported a 29% rise in net profit to 2. On top of that, Swisscom plans to pay a special dividend of CHF2 per share. The government said these new targets became necessary because Swisscom has net debt of around CHF10 billion, after buying back a 25% stake in its mobile unit from the UK’s Vodafone, as well as the acquisition last year of Italian broadband provider Fastweb. Find Out More
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