FT-Orange employees propose dividend cut

10 Apr 2012

Employees of France Telecom-Orange are proposing that the company cut its annual shareholder dividends in order to free up capital to reduce the group’s debts or fund further network investments. According to Telecompaper, which cites French newspaper Le Monde, the employees savings fund will propose at the forthcoming shareholders meeting in June that the 2011 dividend be reduced from the company’s preferred level of EUR1.40 (USD1.83) to EUR1.00. The measure would save around EUR1 billion, it is thought. Employees control around 4% of FT-Orange’s shares.

France, Orange Group