NOS shares shine on betted-than-expected results, dividend surprise

Nos SGPS SA

08/03/2023 11:16

** NOS  NOS.LS  shares are up about 2% after the Portuguese
telecom and media company published late on Tuesday its Q4
report
    ** Deutsche Bank attributes today's positive share reaction
to results being slightly ahead of consensus and a "special
dividend surprise"
    ** The brokerage says that the company reported an overall
good EBITDA beat and reassuring key performance indicators
    ** DB highlights that although the FY 2022 ordinary dividend
per share (DPS) is flat year-on-year, an extraordinary DPS of
0.152 euros per share was proposed (3.6% yield) given completion
of tower sale
    ** Focus remains on the competitive dynamics in the market
and a falling capex trend given the completion of 5G deployment,
the brokerage adds 
    ** "This should support a healthy free cash flow growth
trajectory which could lead to a more progressive ordinary DPS
policy," it says
    ** NOS shares are on track for their best day since the end
of October 2022
    ** Including today's rise, the stock has gained 12.9% year
to date

 (Reporting by Matteo Allievi)
 ((Matteo.allievi@thomsonreuters.com))