Telenet’s board of directors firms up its existing shareholder remuneration policy, introducing a €2.75 gross dividend per share floor going forward

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. Inside information.

Brussels, October 29, 2020 – Telenet Group Holding NV (“Telenet” or the “Company”) (Euronext Brussels: TNET) announces that its board of directors has decided to firm up its existing shareholder remuneration policy on the back of the robust Adjusted Free Cash Flow conversion and strong delivery against the Company’s three-year plan. The amended policy aims to find a balance between attractive shareholder distributions, while preserving optionality for future value-accretive M&A opportunities. Assuming no significant changes in our business or regulatory environment, the board of directors has introduced a dividend floor of €2.75 per share, replacing the previously communicated 50-70% pay-out range as a percentage of our Adjusted Free Cash Flow. The proposed gross dividend of €2.75 per share consists of a gross intermediate dividend of €1.375 per share (to be paid in December 2020 and subject to shareholder approval) and a gross dividend of €1.375 per share (to be paid in May 2021, subject to board and shareholder approval and assuming no significant changes in our business or regulatory environment).

Press release TNET_intermediate dividend 2020_(ENG).pdf - 278 KB

 

 

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About Telenet Group NV/SA

As a provider of entertainment and telecommunication services in Belgium, Telenet Group is always looking for the perfect experience in the digital world for its customers. Under the brand name Telenet, the company focuses on offering digital television, high-speed Internet and fixed and mobile telephony services to residential customers in Flanders and Brussels.

Under the brand name BASE, it supplies mobile telephony in Belgium. The Telenet Business department serves the business market in Belgium and Luxembourg with connectivity, hosting and security solutions. More than 3,000 employees have one aim in mind: making living and working easier and more pleasant.

Telenet Group is part of Telenet Group Holding NV and is quoted on Euronext Brussel under ticker symbol TNET. For more information, visit www.telenet.be. Liberty Global - one of the world’s leading converged video, broadband and communications companies, innovating and empowering people in six countries across Europe to make the most of the digital revolution – owns a direct stake of 57.9% in Telenet Group Holding SA/NV (excluding any treasury shares held by the latter from time to time).


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Telenet Group NV/SA
Liersesteenweg 4
2800 Mechelen