Orange 3Q Revenue Rose; Increased Dividend

   By Mauro Orru 
 

Orange said Thursday that revenue for the third quarter increased as growth in France and Africa and the Middle East offset a decline in the other segments, and it raised its interim dividend to be paid out in December.

The French telecommunications company said revenue rose to 10.58 billion euros ($12.43 billion) on a comparable basis from EUR10.50 billion a year earlier.

Analysts had expected revenue of EUR10.54 billion for the quarter, according to FactSet.

Earnings before interest, taxes, depreciation and amortization after leasing, or Ebitdaal, fell slightly to EUR3.58 billion from EUR3.60 billion on a comparable basis. The company began using Ebitdaal as a financial indicator in January 2019 to account for the adoption of the IFRS 16 accounting standard.

Orange said its board of directors backed the return to a 2020 dividend of EUR0.70 a share, adding the company would pay an interim dividend of EUR0.40 a share on Dec. 9, representing an increase of EUR0.10 from the amount it announced in July. The company will make a final proposal at its annual general meeting of in May 2021, it said.

Orange said it continues to expect a slight decline in 2020 Ebitdaal of about 1%, including all the effects linked to the coronavirus pandemic.

Write to Mauro Orru at [e-mail]; @MauroOrru94

(END) Dow Jones Newswires

October 29, 2020 03:09 ET (07:09 GMT)

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