Tele2 AB’s shares are listed on the NASDAQ OMX Stockholm Large Cap list under the ticker symbols TEL2 A and TEL2 B. The fifteen largest shareholders on December 31, 2015 held shares corresponding to 55.3 percent of the capital and 65.6 percent of the voting rights, of which Investment AB Kinnevik owned 30.2 percent of the capital and 47.8 percent of the voting rights. No other shareholder owns, directly or indirectly, more than 10 percent of the shares in Tele2.
Tele2’s A and B shares were first listed on the O-List of the Stockholm Stock Exchange in May 1996. Tele2 has been listed on the OMX Nordic Exchange Large Cap List since October 2006.
The share capital in Tele2 AB is divided into three classes of shares: Class A, B and C shares. All types of shares have a quota value of SEK 1.25 per share and Class A and B shares have the same rights on the company’s net assets and profits while Class C shares are not entitled to dividends. Class A shares, however, entitle the holder to 10 voting rights per share and Class B and C shares to one voting right per share.
Dividend Policy 2015–2017
In January 2015 Tele2 adopted a progressive dividend policy which aims to deliver 10 percent growth per annum in the following three year period. Authorization to pay extraordinary dividends will be sought when the company has excess capital.
Pursuant to the approval received at the 2015 AGM, Tele2 has the authorization to repurchase up to 10 percent of its share capital.
Tele2 believes that the financial leverage should reflect the status of its operations, future strategic opportunities and obligations. It should also be in line with both the industry and the markets in which it operates. This would imply a target net debt to EBITDA ratio of 1.5–2.0x over the medium term. As communicated we will be above this range during the period of investments in the Netherlands.a