Axiata declares special 4 sen dividend next Celcom-Digi merger

KUALA LUMPUR, Dec 6 — Axiata Group Bhd has declared a distinctive tax-exempt dividend of 4 sen less than a solitary-tier method per share for the economical yr ending Dec 31, 2022.

In a filing with Bursa Malaysia, the telecommunications group explained the dividend was declared following the successful completion of the Celcom-Digi merger on Nov 30, 2022.

“As part of the transaction, Axiata acquired a cash thought of RM2.5 billion from Digi.Com Bhd and RM300 million from Telenor Asia Pte Ltd, in accordance with the phrases of the Share Purchase Agreement and Master Transaction Arrangement,” it mentioned.

Axiata said the bulk of the cash proceeds from the merger exercising would be channelled towards strengthening its balance sheet by paring down its money owed, and the unique dividend to reward shareholders is from the remaining hard cash.

In advancing the group’s regional growth strategy, Axiata reported it will proceed to focus on positioning the small business to capture new possibilities as it champions digitalisation for communities throughout Asia. — Bernama