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Belgian cable company Telenet will distribute €950 million to its shareholders this year after a strong year in which customers flocked to its new mobile offering.
Telenet, in which US group Liberty Global has a 58.3 per cent stake, said it would pay shareholders 7.90 per share and buy back shares worth an additional €50 million. The company said it would finance the pay-out from cash currently on its balance sheet.
The company lost 11,300 basic cable TV customers in the quarter, the lowest net loss rate in three years. Telenet posted full-year revenue of €1.489 billion, up 8 per cent year-on-year, with adjusted EBITDA of €777.8 million, up 8 per cent.