Telenet details the payment of the extraordinary dividend
The enclosed information constitutes regulated information as defined in the Royal Decree of 14 November 2007 on the obligations of issuers of financial instruments admitted to trading on a regulated market.
Brussels, September 26, 2018 – Today, the special shareholders’ meeting of Telenet Group Holding NV (“Telenet” or the “Company”) (Euronext Brussels: TNET) approved the proposed extraordinary gross dividend of €600.0 million. The extraordinary dividend will be paid on October 4, 2018 with the Telenet shares trading ex-dividend as of the opening of the Brussels stock exchange on October 2, 2018.
Payment details
- Dividend per share of €5.30 (gross): The gross dividend per share was determined at €5.30 based on the number of dividend-entitled shares outstanding at the time of the special shareholders’ meeting. The increase in the gross dividend per share from €5.26 as communicated in the convening notice of August 24, 2018 is directly attributable to the progress in the Company’s Share Repurchase Program 2018bis as such treasury shares are not dividend-entitled. At September 25, 2018 close of business, Telenet held 4,678,761 treasury shares, equivalent to 4.0% of the total number of outstanding shares.
- Ex-dividend date of October 2, 2018: As of the opening of the Brussels stock exchange on October 2, 2018, the Telenet shares will trade excluding coupon no 8, which represents the right to receive the upcoming extraordinary dividend payment.
- Record date of October 3, 2018
- Payment date of October 4, 2018: The effective payment of the extraordinary dividend to both registered shareholders and holders of dematerialised shares will occur on October 4, 2018. The payment of the extraordinary dividend will be subject to 30% withholding tax under Belgian law. The received net dividend per share of €3.71 can, however, differ for foreign shareholders depending on the existence of certain double tax treaties between Belgium and certain foreign countries. In order to benefit from the reduced withholding tax, shareholders will need to formally submit a tax certificate to ING Belgium, acting as paying agent on behalf of the Company, at the latest 10 calendar days after the actual payment date. As mentioned on previous occasions, Telenet will fund the extraordinary dividend through the August 2018 issuance of new € and USD-denominated Term Loans under the Company’s 2017 Amended Senior Credit Facility as well as the use of existing cash and cash equivalents.
