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 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
Shareholder Remuneration Policy
Consistent execution against the December 2018 Capital Markets Day shareholder remuneration policy
At the occasion of the December 2018 Capital Markets Day, we reconfirmed our leverage framework, maintained at 3.5x to 4.5x Net Total Debt to Consolidated Annualized Adjusted EBITDA ("net total leverage"). In the absence of any material acquisitions and/or significant changes in our business or regulatory environment, we intended to stay around the 4.0x mid-point through an attractive and sustainable level of shareholder disbursements. As part of our capital allocation framework, we aimed to distribute between 50% and 70% of the prior year Adjusted Free Cash Flow to shareholders through intermediate and final dividends. Within the boundaries of the aforementioned net total leverage framework, and in absence of any of the above factors, the remaining part of our Adjusted Free Cash Flow could be considered for incremental share buy-backs, extraordinary dividends, deleveraging, accretive acquisitions or a combination thereof.
Updated policy with a gross dividend per share floor of €2.75, balancing attractive shareholder distributions and optionality for future value-accretive M&A opportunities
Considering the robust underlying Adjusted Free Cash Flow conversion and the healthy Operating Free Cash Flow outlook for both FY 2020 and the 3-year period over 2018-2021, the board of directors decided at the end of October 2020 to firm up the existing shareholder remuneration policy. Our new policy balances attractive shareholder distributions with optionality for value-accretive M&A opportunities in the future. While the 4.0x net total leverage target has been reaffirmed in the absence of any material acquisitions and/or significant changes in our business or regulatory environment, the board of directors introduced a dividend floor of €2.75 per share (gross) going forward. This dividend floor assumes no significant changes in our business or regulatory environment and replaces the previously communicated 50-70% pay-out range. With that, the board of directors intends to commit a larger share of the Adjusted Free Cash Flow towards recurring dividends. The remainder of our Adjusted Free Cash Flow may still be considered for accretive acquisitions, extraordinary dividends, incremental share buy-backs, deleveraging or a combination thereof.
For more details on the (extra)ordinary dividends paid by the Company and the Share Repurchase programs since 2018, we refer to the chart below in € million.
