Mon, Jan. 4, 6:34 PM
- In its look at telecoms in emerging markets, Renaissance Capital says video could bring new growth -- and the sector may be a place to target dividends.
- "Telcos are jumping too late on the fast moving Internet train," the analysts write. "Video could be the ‘next big thing’ for mobile telcos and the step-up jump in usage (rather than a gradual shift) creates the possibility that this will translate into revenues."
- That growth, though, is likely going to fall victim to competition in no more than 12 months, they say.
- RenCap thinks the growth outlook is best in Turkey, as Russia and MENA face macro headwinds. In Turkey, the firm prefers Turk Telekom (OTC:TRKNY) to Turkcell (TKC -2.1%): “Ultimately a telecom (as with any other sector) is as good as its dividend stream is. On this metric we estimate [Turk Telekom] could be worth TRL5.8/share if all allowable earnings adjusted for availability of cash are paid out as dividends, and assuming the market would be happy with an 11.5% yield – 10.5% versus Turkish local bonds."
- Meanwhile, in Russia the firm likes Mobile TeleSytems (MBT -2.8%) and Sistema over VimpelCom (NASDAQ:VIP), and it highlights MTN Group (OTCPK:MTNOY -1.4%) in South Africa, though noting that firm's huge Nigerian fine shows that developing countries present regulatory risk and "become inventive when it comes to enhancing state coffers.”
Nov. 6, 2015, 9:19 AM
- VimpelCom (NASDAQ:VIP) declares $0.035/ADS dividend.
- Payable Dec. 7; for shareholders of record Nov. 23; ex-div Nov. 19.
Nov. 6, 2013, 2:42 AM
- Vimpelcom's (VIP) Q3 net profit slumped 53% to $255M and badly missed consensus of $504M, with earnings hurt by a tax expense, and regulatory and competitive pressures.
- Revenue fell 1% to $5.7B.
- EBITDA -2% to $2.5B, below consensus of $2.52B.
- Total mobile subscriber base +5% on year to 219M.
- The Russian carrier declared an interim dividend of $0.45 a share. (PR)
Apr. 18, 2013, 2:05 PMVimpelCom (VIP) declares final dividend of $0.35/share. For shareholders of record Apr. 29. Payable May 15. Ex-div date Apr. 25. The board declares special dividend of $0.79/share to be payable along with final dividend. (PR) | Apr. 18, 2013, 2:05 PM