Axiata declares special dividend of 4c/share from proceeds of Celcom-Digi merger

KUALA LUMPUR: Axiata Group Bhd has declared a special tax-exempt dividend of four sen per share for the financial year ending Dec 31, 2022, pursuant to the successful completion of the Celcom-Digi merger.

The telco group said the dividend will be taken out of the cash proceeds of RM2.5bil received from Bhd and RM300mil from Telenor Asia Pte Ltd in accordance with the terms of the share purchase agreement and master transaction agreement.

The bulk of the cash proceeds from the merger exercise will go towards strengthening the group's balance sheet by paring down debt.

"In advancing the group’s regional expansion strategy, the business to capture new opportunities as it across Asia," it added in a statement.

For the third quarter ended Sept 30, 2022, Axiata recorded a net loss of RM52.4mil in the third quarter ended Sept 30, 2022, as it experienced significant foreign exchange losses from the strengthening of the US dollar against the local currencies of its operating companies (Opcos) and higher finance costs.

This represented a loss per share of 0.6 sen as compared to a profit of 3.8 per share in the same quarter last year.

This came on the back of RM7.2bil revenue, 11% higher from the same quarter of 2021.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Axiata , dividend , payout , Celcom , Digi , merger


Next In Business News

Sunway REIT stays upbeat amid improving retail, hotel performance
FBM KLCI stays in range-bound trading ahead of peak earnings period
Ringgit extends winning streak on expectation of slower US interest rate hike
Elon Musk’s mysterious ways on display in Tesla tweet trial
MAHB's passenger throughput expected to rise in 2023
Bursa Malaysia sees net foreign outflow of RM57.8mil in holiday-shortened week
Corporate earnings in view for February trading
Trading ideas: Revenue, MAHB, SCIB, Hextar Industries, EcoFirst and LYC
Influencers focused on strengthening their niche
Seeing green

Others Also Read