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UPDATE 1-O2 Czech Republic to propose 16 crown dividend
January 26, 2016 / 7:17 AM / 2 years ago

UPDATE 1-O2 Czech Republic to propose 16 crown dividend

(Adds details on share buyback)

PRAGUE, Jan 26 (Reuters) - Fixed and mobile operator O2 Czech Republic will propose paying a 16 crown dividend per share on 2015 earnings, the company said on Tuesday, at the lower end of expectations in a Reuters poll.

It reported a fourth-quarter net profit of 1.35 billion Czech crowns ($54.27 million), up 33 percent from pro-forma results a year earlier.

Analysts polled by Reuters had expected a profit of 1.29 billion profit.

O2, majority-owned by Czech investor Petr Kellner’s investment group PPF, said revenue rose 0.4 percent to 9.7 billion crowns.

It said it would start its share buyback on January 28, ready to buy up to 130,745 shares a day. The company announced the programme in December, setting a price range at 10-297 crowns, planning to buy up to 4 percent of own stock.

The company spun off its infrastructure assets last year.

$1 = 24.8740 Czech crowns Reporting by Jan Lopatka and Robert Muller; editing by Jason Neely

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