| 30 May 2024, Thursday |

At annual general meeting, Deutsche Telekom reaffirms its outlook

On Thursday, Deutsche Telekom announced its 2020 outlook, ahead of its annual general meeting, where investors are expected to demand a review of the company’s dividend strategy in light of last year’s strong results.

The Bonn-based telecommunications company said its adjusted core profit would increase to 37 billion euros ($43.4 billion) this year, with cash flow of 8 billion euros.

Deutsche Telekom is putting an unchanged dividend of 0.60 euros to the vote at its AGM, which is being held online for the second time due to the coronavirus pandemic.

That has irritated some investors, who are expected to call for a higher payout in light of last year’s improved results, driven by strength at U.S. unit T-Mobile following its takeover of smaller rival Sprint.

Last year, the company’s preferred indicator of operating profitability, adjusted earnings before interest, taxes, appreciation, and amortization after leases (EBITDA AL), increased by 42 percent to 35 billion euros.


  • Reuters