Telkom suffers R10bn loss amid impairments, warns it won't pay dividends next year either | Business

📆 13/06/2023 13:15:00

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SA's third-biggest mobile operator Telkom warned it wouldn't pay dividends for a fourth year, believing it prudent to first strengthen its balance sheet after suffering an annual loss of about two-thirds of its market value. | News24_Business

📆 13/06/2023 13:15:00
📰 News24

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Telkom had suspended dividends for three years, with 2023 meant to be the final year, but said on Tuesday it would not be paying a dividend in 2024 either.

"As we continued to manage the transition to next-generation technologies, group performance was under pressure from a pronounced reduction in legacy revenues for the year." While Telkom is trying to cut costs as part of its turnaround, the group is also looking to sell some of its businesses.

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