Millicom Declares Interim Dividend for Shareholders
Millicom International Cellular S.A. has recently made a significant announcement regarding its financial policy aimed at rewarding shareholders. The Board of Directors has approved an interim dividend of $2.50 per share, to be distributed in two equal installments.
Details of the Interim Dividend
The interim dividend, totaling $2.50, will be divided into two payments of $1.25 each. The first installment is scheduled for October 15, while the second will be paid on April 15 of the following year.
Payment Schedule
Shareholders must take note of crucial payment dates. For the first installment, the record date is set for October 8, ensuring that those on the register by this date will be eligible to receive the dividend. The closing trading day for shares before they become ex-dividend is October 7.
Currency and Tax Implications
Both installments will be paid in U.S. dollars, providing a familiar currency for many investors. Due to the stipulations of Luxembourg's income tax law, a withholding tax of 15% will be deducted from the payment, impacting the net amount received. Millicom will handle this tax obligation, remitting the necessary amount to the tax authorities, simplifying the process for shareholders.
What This Means for Shareholders
This dividend announcement signifies Millicom's ongoing commitment to providing value to its shareholders. By distributing an interim dividend, the company demonstrates a solid financial position and efficient operational management.
Future Outlook for Millicom
Millicom (NASDAQ: TIGO) remains a prominent provider of telecommunications solutions in Latin America, boasting a robust portfolio that includes mobile and fixed services primarily marketed under the TIGO and Tigo Business brands. The dividend reiterates the company’s strategy to maintain a competitive edge while catering to the needs of over 46 million customers.
About Millicom
Founded in 1990, Millicom has expanded its reach across various markets, directly impacting lives through digital services. In addition to telecommunications, Millicom offers mobile financial services with TIGO Money, streaming options with TIGO Sports, and high-speed internet and pay-TV services. As of now, approximately 14,000 employees are dedicated to providing unparalleled service. This infrastructure underpins both their consumer and business-to-business solutions, reinforcing Millicom's role in driving digital innovation.
Contact Information
For further inquiries regarding this announcement, shareholders and interested parties are encouraged to contact:
Press: Sofía Corral, Director of Corporate Communications
Email: press@millicom.com
Investors: Investor Relations
Email: investors@millicom.com
Frequently Asked Questions
What is the amount of the interim dividend declared by Millicom?
The interim dividend declared by Millicom is $2.50 per share.
When will the interim dividend installments be paid?
The first installment will be paid on October 15, while the second is scheduled for April 15 of the following year.
What are the implications of the withholding tax on the dividend?
A 15% withholding tax will be applied, meaning shareholders will receive the dividend amount net of this tax.
In what currency will the dividends be paid?
The dividends will be paid in U.S. dollars.
How many customers does Millicom currently serve?
Millicom provides services to over 46 million customers across Latin America.
