Shareholders of HEL to get $4.12 bn
HTIL board has declared dividend of $12.94 per ADS, to shareholders holding the co's shares as on June 8.
By PTI |
NEW DELHI: With the sale of Hutchison Telecom's Indian assets through, shareholders of the Hong Kong based firm are in for a rich dividend - nearly $4.12 billion (Rs 17,000 crore) - most of which is likely to go to promoter Li Ka-Shing.
Hutchison Telecommunications International Ltd (HTIL) on Wednesday announced that its board of directors has declared a special cash dividend of HKD 6.75 per share or approximately $12.94 per ADS, payable on June 29 to shareholders who hold the company's shares as on June 8, a company release said.
For ADS holders, the record date has been fixed as June 5.
The special cash dividend will be distributed from the proceeds of the transaction with Vodafone, which was completed on May 8, the release said.
The total dividend works out to approximately HKD 32,230 million or $4.12 billion.
HTIL's shares will be quoted ex-dividend on the Hong Kong Stock Exchange on June 5, while the ADS will be quoted ex-dividend on the New York Stock Exchange on June 1.
Vodafone will pay $10.9 billion in cash to HTIL after retention and closing adjustments agreed between them.
Vodafone acquired HTIL's 51.96 per cent stake held in HEL, India's fourth largest mobile firm.
Canning Fok, Chairman of HTIL had said, "We exit the Indian market as one of the best capitalised telecom companies in the region which will enable us to react swiftly to new opportunities and to accelerate growth in our existing markets. The Company looks forward to furthering its mission to deliver value to shareholders as a leading telecom operator."
Hutchison Telecommunications International Ltd (HTIL) on Wednesday announced that its board of directors has declared a special cash dividend of HKD 6.75 per share or approximately $12.94 per ADS, payable on June 29 to shareholders who hold the company's shares as on June 8, a company release said.
For ADS holders, the record date has been fixed as June 5.
The special cash dividend will be distributed from the proceeds of the transaction with Vodafone, which was completed on May 8, the release said.
The total dividend works out to approximately HKD 32,230 million or $4.12 billion.
HTIL's shares will be quoted ex-dividend on the Hong Kong Stock Exchange on June 5, while the ADS will be quoted ex-dividend on the New York Stock Exchange on June 1.
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Vodafone will pay $10.9 billion in cash to HTIL after retention and closing adjustments agreed between them.
Vodafone acquired HTIL's 51.96 per cent stake held in HEL, India's fourth largest mobile firm.
Canning Fok, Chairman of HTIL had said, "We exit the Indian market as one of the best capitalised telecom companies in the region which will enable us to react swiftly to new opportunities and to accelerate growth in our existing markets. The Company looks forward to furthering its mission to deliver value to shareholders as a leading telecom operator."
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