February 6, 2019 / 2:53 PM / 5 months ago

Broadcaster CME to wait before deciding on dividends or buyback

PRAGUE, Feb 6 (Reuters) - Broadcaster Central Europe Media Enterprises (CME) expects it will have more clarity toward the end of 2019 on chances of its capital allocation alternatives beyond deleveraging, its co-chief executive said on Wednesday.

CME has seen profits rise, prompting analyst questions of whether it could begin paying dividends or launching a share buyback after years of trying to pay down a debt pile that had reached over $1 billion.

“We would be better served if we see how the year goes on,” co-CEO Michael Del Nin told an earnings call. “When we are closer to year-end, I think with more information at hand we will be able to come out with something a little bit more definitive (on plans).” (Reporting by Jason Hovet, editing by Louise Heavens)

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