NOS jumps after profit beat, higher dividend proposal

Nos SGPS SA

06/03/2024 08:26

March 6 (Reuters) -   ** Shares in NOS  NOS.LS  jump
around 7% to their highest level since November after the
Portuguese telecommunications company reported
better-than-expected net profit and announced a higher dividend
    ** Q4 net income of 54 million euros is ahead of a consensus
estimate of 15 million euros, as the company recognised income
from a favourable court ruling, J.P.Morgan says
        ** NOS also proposed a dividend of 0.35 euros, up 26%
year on year and ahead of the median Bloomberg consensus
estimate of 0.28 euros, JPM notes
  
    ** "Given the unexpected income from the court ruling, the
dividend per share surprised to the upside as well" - JPM
        ** If gains hold, the stock will see its best day since
Nov. 24, 2020, when it closed 13.5% higher
  

 (Reporting by Maria Luiza Amaral)
 ((Mia.Amaral@thomsonreuters.com; +48 58 769 66 00))