Cellnex CEO Considers Starting Dividend Plan One Year Early: Report, ET Telecom

MADRID: The CEO of Spanish cell tower operator Cellnex, Marco Patuano, said he was considering starting the company’s dividend plan a year earlier in 2025, Il Sole 24 Ore newspaper reported on Friday.

“We want to postpone until 2025 a remuneration that will be material and consistent,” he told an Italian newspaper.

In March, the company said it aimed to commit at least 3 billion euros ($3.31 billion) between 2026 and 2030, of which at least 500 million euros in 2026, followed by an annual increase of 7.5%.

Cellnex is in the process of reducing its debt after several years of aggressive expansion through acquisitions that made it one of the largest telecommunications companies in Europe.

Posted October 4, 2024 at 1:07 pm EST

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