Telefonica Czech approves CZK 27 per share dividend for 2011, capital reduction.

By bne IntelliNews April 20, 2012
Shareholders of Telefonica Czech Republic have approved a dividend payment of CZK 8.696bn, or CZK 27 (EUR 1.1) per share, for 2011, the company said in a statement. Last year the company paid a CZK 40 per share dividend. For the dividend payout the company will use part of 2011 profit and retained profits. Telefonica posted a consolidated net profit of CZK 8.684bn for 2011, by 29.3% lower than in 2010. Standalone profit totalled CZK 7.65bn. The shareholders also voted on cutting the company's capital to CZK 28bn from CZK 32.2bn by reducing the nominal value of shares by CZK 13. The general shareholders meeting gave its backing to a five-year share buyback programme for up to 10% of the company's shares. Telefonica Czech is the largest telecommunications company in the country serving 4.942mn mobile users and 1.58mn fixed-line clients. It is owned by Spanish Telefonica, one of the world's largest telecommunications operators by market capitalisation.

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