Sweden's Tele2 posts profit beat, reinstates extra dividend

Credit: REUTERS/ALEXANDER DEMIANCHUK

STOCKHOLM, July 15 (Reuters) - Swedish telecoms operator Tele2 TEL2b.ST reported quarterly core earnings above market forecasts on Wednesday and said it was dusting off plans, moth-balled due to coronavirus crisis, for an extra payout to shareholders.

Second-quarter adjusted earnings before interest, tax, depreciation and amortization (EBITDA) were 2.58 billion crowns ($283.9 million), up from 2.50 billion in the year-earlier quarter, and above the 2.41 billion mean forecast in a poll of analysts.

Tele2 said earlier on Wednesday it would reinstate its previous proposal of an extraordinary dividend of 3.50 crowns per share, which was withdrawn in April due to the COVID-19 pandemic.

($1 = 9.0891 Swedish crowns)

(Reporting by Helena Soderpalm; editing by Niklas Pollard)

((helena.soderpalm@thomsonreuters.com; +46 8 700 10 15; Reuters Messaging: helena.soderpalm.reuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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