Chilean operator Empresa Nacional de Telecomunicaciones (Entel) has established a new dividend policy for 2013. The new policy follows Entel’s recent purchase of Nextel Peru for USD 400 million. Entel has reduced the dividend cap from up to 80 percent to up to 50 percent of net income.
Entel’s board has also proposed to distribute net income from the 2012 period in the form of a dividend totaling CLP 375 per share, of which CLP 150 per share corresponds to the provisionary dividend paid in December 2012. The payment of the remaining CLP 225 per share will be determined at the next ordinary shareholders´ meeting.
The board's decision is subject to shareholders' approval at their 25 April meeting.
