Shareholder Remuneration Policy
Mechelen, February 24, 2022 – Telenet Group Holding NV (“Telenet” or the “Company”) (Euronext Brussels: TNET) hereby discloses certain information in relation to its share repurchases, in accordance with Article 8:4 of the Royal Decree of 29 April 2019 implementing the Belgian Code on Companies and Associations. The Company repurchased in total 1,100,000 own shares under the Share Repurchase Program 2021 for an aggregate amount of €35.4 million. As the Company repurchased the maximum number of own shares authorized under the Share Repurchase Program 2021, the aforementioned share buy-back program has now been fully executed. The repurchased shares under this program will be used to cover future obligations under the Company's share incentive plans or will be cancelled to the extent the repurchased shares would exceed such obligations. The Company currently holds 5,448,369 own shares, representing 4.79% of the total number of outstanding shares.
Mechelen, February 21, 2022 – Telenet Group Holding NV (“Telenet” or the “Company”) (Euronext Brussels: TNET) hereby discloses certain information in relation to its share repurchases, in accordance with Article 8:4 of the Royal Decree of 29 April 2019 implementing the Belgian Code on Companies and Associations. The Company currently holds 5,382,354 own shares, representing 4.73% of the total number of outstanding shares.
Mechelen, February 14, 2022 – Telenet Group Holding NV (“Telenet” or the “Company”) (Euronext Brussels: TNET) hereby discloses certain information in relation to its share repurchases, in accordance with Article 8:4 of the Royal Decree of 29 April 2019 implementing the Belgian Code on Companies and Associations. The Company currently holds 5,263,354 own shares, representing 4.62% of the total number of outstanding shares.
Mechelen, February 7, 2022 – Telenet Group Holding NV (“Telenet” or the “Company”) (Euronext Brussels: TNET) hereby discloses certain information in relation to its share repurchases, in accordance with Article 8:4 of the Royal Decree of 29 April 2019 implementing the Belgian Code on Companies and Associations. The Company currently holds 5,182,354 own shares, representing 4.55% of the total number of outstanding shares.
Mechelen, January 31, 2022 – Telenet Group Holding NV (“Telenet” or the “Company”) (Euronext Brussels: TNET) hereby discloses certain information in relation to its share repurchases, in accordance with Article 8:4 of the Royal Decree of 29 April 2019 implementing the Belgian Code on Companies and Associations. The Company currently holds 5,102,354 own shares, representing 4.48% of the total number of outstanding shares.
Mechelen, January 24, 2022 – Telenet Group Holding NV (“Telenet” or the “Company”) (Euronext Brussels: TNET) hereby discloses certain information in relation to its share repurchases, in accordance with Article 8:4 of the Royal Decree of 29 April 2019 implementing the Belgian Code on Companies and Associations. The Company currently holds 5,022,354 own shares, representing 4.41% of the total number of outstanding shares.
Mechelen, January 17, 2022 – Telenet Group Holding NV (“Telenet” or the “Company”) (Euronext Brussels: TNET) hereby discloses certain information in relation to its share repurchases, in accordance with Article 8:4 of the Royal Decree of 29 April 2019 implementing the Belgian Code on Companies and Associations. The Company currently holds 4,863,078 own shares, representing 4.34% of the total number of outstanding shares.
Mechelen, January 10, 2022 – Telenet Group Holding NV (“Telenet” or the “Company”) (Euronext Brussels: TNET) hereby discloses certain information in relation to its share repurchases, in accordance with Article 8:4 of the Royal Decree of 29 April 2019 implementing the Belgian Code on Companies and Associations. The Company currently holds 4,863,078 own shares, representing 4.27% of the total number of outstanding shares.
Mechelen, January 3, 2022 – Telenet Group Holding NV (“Telenet” or the “Company”) (Euronext Brussels: TNET) hereby discloses certain information in relation to its share repurchases, in accordance with Article 8:4 of the Royal Decree of 29 April 2019 implementing the Belgian Code on Companies and Associations. The Company currently holds 4,784,078 own shares, representing 4.20% of the total number of outstanding shares.
Shareholder Disbursements
| Date(1) | Shareholder Disbursements |
|---|---|
| May 3, 2023 | €1.00 per share (gross dividend) |
| May 2, 2022 |
€1.3750 per share |
| December 6, 2021 | €1.3750 per share (gross intermediate dividend) |
|
May 3, 2021 |
€1.3750 per share |
|
December 4, 2020 |
€1.375 per share |
|
May 2, 2020 |
€1.3050 per share |
|
December 5, 2019 |
€0.57 per share |
|
October 2, 2018 |
€5.30 per share |
|
May 3, 2013 |
€7.90 per share |
|
May 7, 2012 |
€1.00 per share |
|
August 28, 2012 |
€3.25 per share |
|
July 26, 2011 |
€4.50 per share |
|
July 28, 2010 |
€2.23 per share |
|
August 27, 2009 |
€0.50 per share |
|
November 19, 2007 |
€6.00 per share |
1 All dates refer to ex-dividend dates
(*) Subject to shareholder approval
Shareholder Remuneration Policy
As detailed during the September 2022 Capital Markets Day, our long-term consolidated ambition is to drive growth in both ARPU and our customer base, translating into healthy top line growth. Through increased digitization, we expect our operating costs to further decrease over time, boosting our Adjusted EBITDA. After the fiber network build and upgrade, we expect a significantly lower CAPEX intensity across both our fixed infrastructure (Wyre) and Telenet businesses, translating into robust Adjusted Free Cash Flow growth and growth in our shareholder remuneration profile from our current policy as described below.
In July 2022, as part of the Wyre transaction announcement with Fluvius, the board of directors decided to reset the Company’s shareholder remuneration policy in order to maintain a consolidated net total leverage of around 4.0x throughout the CAPEX-intense fiber build period.
Over the 2023-2029 period, the board of directors decided upon an annual dividend floor of €1.0 per share (gross) to be paid annually in early May following shareholder approval at the statutory AGM in April. As such, the board of directors ensures a balanced approach with continued regular dividends whilst investing for future growth. After this build period, including 5G roll-out, the CAPEX intensity is expected to materially decrease and return to normalized historical levels, leading to substantial Adjusted Free Cash Flow growth and providing scope for significantly higher shareholder disbursements. At that point in time, the shareholder remuneration plan will be re-evaluated by the board of directors.
In early May 2023, we paid the proposed annual gross dividend of €1.0 per share (net €0.7 per share), equivalent to an aggregate amount of €108.6 million. Reference is made to Liberty Global's conditional and voluntary cash offer for the remaining Telenet shares not held by Liberty Global or Telenet, for which the initial acceptance period ended on July 12, 2023. As of the 26th of July 2003, Liberty Global owns 93.23% of Telenet, including the treasury shares held by Telenet. As disclosed in the prospectus, as a strategic investor, Liberty Global’s investment in Telenet is not driven by set expectations regarding an annual dividend. Liberty Global will assess the future dividend policy of Telenet in light of the realization of Telenet’s business plan, investment requirements and opportunities, as well as its financing needs and whether a delisting of Telenet can be obtained. Investors should by no means assume that after the completion of the offer (irrespective of whether the completion of the offer is followed by a squeeze-out), Telenet will pursue a dividend policy which is in line with past or current policies. In this respect, Liberty Global specifically reserves the right to review the €1.0 per share dividend floor for the 2023-2029 period as announced by Telenet, subject to appropriate decision making by Telenet’s board of directors and shareholders’ meeting in accordance with legal regulations.