Telefonica Czech May Boost Share Buyback Beyond 2% Approved For 2012
May 10 2012 - 9:48AM
Dow Jones News
Telefonica Czech Republic AS (BAATELEC.PR), majority owned by
Spain's Telefonica SA (TEF), may boost its share buyback program in
2012 beyond the already approved the first tranche of 2%, the head
of the company's finance and investor relations department said
Thursday.
"I can't rule out boosting the share buyback program," Tomas
Kouril told a news conference.
The company's approval of the first tranche of its share buyback
follows its general authorization for a potential share buy back of
up to 10% of its shares through 2017.
Kouril declined to comment on whether the company is capable of
maintaining its current dividend payout of 40 koruna a share,
already confirmed for 2011.
"I can't say anything about this, but I can confirm that it
isn't our goal to sit on any excess cash," Kouril said.
-By Leos Rousek, Dow Jones Newswires; +420 222 315 290;
leos.rousek@dowjones.com
Go to http://blogs.wsj.com/emergingeurope for the new WSJ and
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