(ADPnews) - Apr 28, 2011 - Portuguese Internet and telecoms operator Sonaecom (ELI:SNC) yesterday approved the first dividend in its history.
The firm will pay gross EUR 0.05 (USD 0.074) per share on the 2010 earnings results. Thus, Sonaecom will distribute a total EUR 18.3 million among its shareholders. The figure translates into a payout ratio of 44%.
The payment was voted at the yesterday's general meeting.
Sonaecom's parent group and main shareholder Sonae SGPS (ELI:SON) will receive EUR 9.7 million of the total sum. France Telecom (EPA:FTE) and Portuguese commercial bank Millennium bcp (ELI:BCP) will pocket EUR 3.6 million and EUR 625,000, respectively.
Sonaecom CEO, Angelo Pauperio, admitted that there are conditions for the start of a regular dividend distribution practice.
(EUR 1 = USD 1.486)
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