Jul 10, 2019

BT says it may cut dividend to fund fibre rollout

BT has signalled it is prepared to cut its dividend in the future to fund its fibre build programme across the country. The telecoms company maintained its dividend for the year to March and pledged to match that in this financial year in May despite expectations that it could cut the payout. Mr du Plessis said the company would look at reducing capital expenditure, more cost savings and increased borrowing to fund fibre expansion to free up cash for investment. BT has yet to commit to build full fibre to more than 4m homes as it has not reached a regulatory settlement with Ofcom that it says would justify the investment. The company has been criticised for not spending more on full fibre with only 7 per cent of UK homes able to connect to such a line.

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