Telkom has returned to paying dividends after the group declared over R7 billion in profit, including a special dividend following the sale of Swiftnet.
Serame Taukobong, Telkom’s Group CEO, said the company’s strategic vision is yielding exceptional results.
The group also completed the sale of its tower business, Swiftnet, to a consortium of buyers for R6.5 billion during the financial year.
Although the group data revenue remained strong, a combination of successful strategies fuelled the increase in EBITDA and cash flow growth.
Mobile and fibre service revenue growth across the group improved adjusted EBITDA by 25.1% and drove a 19.3% year-on-year increase in cash flow from underlying operations.
With total profit income for the year growing from R1.8 billion to R7.5 billion, Telkom reinstated dividend payments after a five-year suspension.
The group’s new dividend policy aims to maintain a strong balance sheet, buffer potential economic downturns and fund future capital
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