Telekom Srbija has announced that it will pay dividends to its shareholders for 2023 on December 24. The gross dividend will be 8.4 dinars per share, or 7.14 dinars net per share.
This year, the telecommunications giant will distribute a total of 6.72 billion dinars in dividends, which is the same amount allocated to shareholders as last year. Shareholders who were the legal owners of Telekom Srbija shares on June 18, 2024, are entitled to receive the dividend.
As part of the company’s share distribution process, citizens were given 31 Telekom shares each, which are not traded on the Belgrade Stock Exchange. Some of the capital was also distributed to employees and former workers. This means citizens will receive a total of 221.34 dinars net in their accounts on December 24.
The largest shareholders of Telekom Srbija are the Republic of Serbia, with 58.11 percent of shares, and Telekom itself, which owns 20 percent of its own shares. The remaining shares are held by citizens, employees, and former employees. This raises the question of whether Telekom may be privatized or whether part of the shares might be sold. The general director of the company, Vladimir Lučić, addressed this issue in October.
When asked about plans for changing the ownership structure, Lučić stated that privatization is a decision for the majority owner. He emphasized that their focus is on increasing the company’s value. “Telekom’s value has risen not only because of higher EBITDA but also because of its strong physical infrastructure and its expansion into media and digital services. While traditionally valued more for its telecommunications business, today the media and digital service aspects of the company have higher value. As we continue to grow, we expect the company’s value to increase further, which will be reflected in our credit rating at the right moment,” said Lučić.
This year, Telekom issued corporate bonds for the first time and received a credit rating from Fitch Ratings. In addition to Telekom’s dividend, shareholders who have held onto their shares in NIS and Nikola Tesla Belgrade Airport will also receive about 494 dinars net in their accounts, based on their previous investments.
NIS paid its dividend earlier this year on August 28, with a payout of 64.26 dinars gross (54.62 dinars net) per share. Meanwhile, Nikola Tesla Belgrade Airport has not paid dividends in the past five years.
