Proximus : One more dividend cut to clear the path to outperformance again
>We expect a dividend cut from € 1.20 to € 0.80 from 2023 - Proximus is set to host a capital markets day on Monday, 16 January 2023, at which it will release its new three-year strategy. We expect management to cut the dividend from € 1.20/share (paid out over 2020, 2021 and we expect 2022) to € 0.80/share for 2023, 2024 and 2025. This would reduce the annual dividend spend to € 258m (from € 387m now) and align it much better with our adjusted FCF forecasts of € 297...Proximus supplies integrated telecommunications services on the Belgian market. Co.'s activities are divided into four segments: Consumer Business Unit (CBU), which sells voice products and services, internet and television, on fixed and mobile networks, to residential customers; Enterprise Business Unit (EBU), which caters to professional customers; Service Delivery Engine and Wholesale, which centralizes all the network and IT services and costs, provides services to CBU and EBU and sells these services to other telecom and cable operators; and International Carrier Services, which focuses on international carrier activities.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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