Tele2 will aim to maintain target leverage of 2.5–3.0x economic net debt/ underlying EBITDAaL and maintain investment grade credit metrics. Tele2’s policy will aim to maintain target leverage by distributing capital to shareholders through:
- An ordinary dividend of at least 80 percent of equity free cash flow; and
- Extraordinary dividends and/or share repurchases, based on remaining equity free cash flow, proceeds from asset sales and releveraging of underlying EBITDAaL growth.
Based on this policy, Tele2 is expected to distribute in excess of 100 percent of equity free cash flow to shareholders, through a combination of dividends and/or share repurchases.
Below table depicts the ordinary cash dividends and other cash distributions to shareholders paid per ordinary share by Tele2 since fiscal year 2012. All amounts in SEK.
|Decision at Annual General Meeting||2019||2018||2017||2016||2015||2014||2013|
|Other distribution to shareholders||6.002||10.003||28.004|
|Record date||8 May 2019/ 2 October 2019/ 26 August 2019||23 May 2018||11 May 2017||26 May 2016||21 May 2015||15 May 2014||16 May 2013/ 11 June 201|
1 The Board proposed a dividend of SEK 4.40 per share to be paid in two equal instalments of SEK 2.20 per share each. The record date for the first dividend payment was on Wednesday 8 May 2019 and for the second dividend payment Wednesday 2 October 2019.
2 Distribution to shareholders via extraordinary dividend of SEK 4.1 billion which was equivalent to a distribution of SEK 6.00 per existing share of Class A and B in Tele2 following the transactions in the Netherlands and Kazakhstan. The record date for the extra ordinary dividend was 26 August 2019.
3 Extra ordinary dividend with the same record date as for the ordinary dividend.
4 Distribution to shareholders via a share redemption program of SEK 12.5 billion, which was equivalent to a distribution of SEK 28 per existing share of Class A and B in Tele2. The record date for the share redemption program was 11 June 2013.