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ATUS WI - Altice USA Inc News Story

$17.71 0.0  0.1%

Last Trade - 08/06/18

Sector
Telecoms
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £7.04bn
Position in Universe th / 6846

UPDATE 1-Altice Europe pledges to pay no dividend in 'exceptional' times

Sun 29th March, 2020 8:51pm
(Adds more detail)
    PARIS, March 29 (Reuters) - Telecoms and cable group Altice
Europe  ATCA.PA , which has not paid a dividend since it was
incorporated, on Sunday pledged not to pay a dividend to
shareholders, citing the current coronavirus crisis.
    "Altice Europe commits, in these exceptional times, to pay
no dividend to its shareholders," the group said in a statement.
    In April last year, Amsterdam-listed Altice Europe had said
in a regulatory filing it had not paid a dividend since the
company was founded. 
    "With the exception of the special distribution in kind of
its 67.2% interest in Altice USA Inc. to its shareholders out of
its share premium reserve on June 8, 2018, Altice Europe N.V.
has not paid any dividends since its incorporation," Altice
Europe said in the filing. 
    Altice Europe's comments on dividends follows comments from
unions officials that the company was planning to tap a French
government support scheme for up to 60% of its workforce in the
country.  urn:newsml:reuters.com:*:nL8N2BH5OJ
    Some unionised workers have criticised financially solid
listed companies for seeking to take advantage of state aid when
there are smaller firms in greater need of support.
    Smaller rival Bouygues Telecom  BOUY.PA  reversed a decision
to temporarily lay off 800 call centre staff and client
advisers, according to the CFDT union.  urn:newsml:reuters.com:*:nL8N2BM0JJ
    A Bouygues Telecom executive dismissed remarks by the CFDT
union that the company done this after coming under union
pressure. 
    He said Bouygues Telecom put those particular employees
under temporary unemployment while it bought equipment that
would allow them to work from home, and had acted in accordance
with government orders.
    Debt-ridden Altice Europe, founded and controlled by Patrick
Drahi, beat quarterly earnings forecasts last week, showing how
its turnaround plan was bearing fruit before the economic
downturn caused by the coronavirus crisis.  urn:newsml:reuters.com:*:nL8N2BH7Q2

         

 (Reporting by Richard Lough and Mathieu Rosemain;
Editing by Andrew Cawthorne and Jane Merriman)
 ((Email: richard.lough@thomsonreuters.com; Tel: +33 1 49 49 52
42;))
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