VEON 4Q 10 - End of dividend bonanza
VEON reported 4Q and FY 19 results broadly matching the guidance and issued the FY 20e guidance, which implies a significant free cash flow reduction yoy, implying a 50% dividend cut. VEON also announced a management transition with two co-CEOs taking the lead and the Head of Beeline Russia departing, thus potentially putting the strategy implementation into question.
The Institutional Equity Research team of Raiffeisen Bank International AG covers 85 stocks from Austria, Central & Eastern Europe with sell-side research and thus levers our local broker status with excellent company relationships. For corporates in Austria, CEE and Western Europe, we offer co-sponsored research, which includes research coverage and marketing activities to investors. Additionally, through our Spotlight Research product we also shed light on leading European small and micro-caps, seeking greater visibility with investors.
The Institutional Equity Research team consists of roughly 15 analysts, both in Vienna and the CEE countries. Our analysts provide long-standing sector expertise in tandem with profound local market know how and a sectoral approach across the entire region.
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