Yahoo may rethink use of cash from Alibaba deal
SAN FRANCISCO, Aug 9 Yahoo Inc may re-evaluate plans for the cash it gets from a multibillion-dollar sale of half of its 40 percent stake in Chinese Internet company Alibaba Group.
(Adds CEO comments, details)
Oct 18 Swedish cable TV firm Com Hem on Tuesday reported higher third-quarter earnings than expected and said it would raise dividend in 2017 and lower buybacks of own shares.
* Com Hem plans to keep shareholder remuneration largely unchanged with higher dividends and lower buybacks of own shares, Chief Executive Anders Nilsson told Reuters
* "We have delivered strong cash flow for quite a long period of time and the board therefore intends to change the dividend policy."
* Nilsson says Com Hem keeps mid-term forecasts of mid single digit growth for revenue, earnings before interest, taxes, depreciation and amortization (EBITDA), but to grow cash flow at a faster rate
* Q3 EBIT 227 million SEK
* Q3 underlying EBITDA rose 8.7 percent to 642 million SEK
* Q3 EPS 0.56 SEK
* Says Q3 consumer churn rate at a record low of 12.7 pct, 0.4 percentage points decrease from Q2 2016.
* Nilsson says churn, the share of clients that leave the company, could possibly become lower ahead, but not this year
* Says change in 2016 capex guidance: lowers capex guidance for 2016 to a range of SEK 850-950 mln (including Boxer in Q4) compared to SEK 1.0-1.1 bln previously, as core business now runs at a sustainably lower capex level
* Says significantly increase dividend in 2017: Following consistently strong cash generation, the board intends to propose a change to the mix of the shareholder remuneration to increase the cash dividend from SEK 1.50 per share to SEK 4.00 per share to be paid out semi-annually in May and October, 2017.
* Says alongside the cash dividend we will also continue to do buybacks from time to time.
* Reuters poll: Com Hem Q3 revenue was seen at 1,306 mln SEK, adjusted EBITDA at 615 mln SEK Source text for Eikon: Further company coverage: (Reporting By Olof Swahnberg; Editing by Daniel Dickson)
* Penalty is largest FTC has ever imposed for violating an order