Vladimír Urbánek (Kurzy.cz)
World markets  |  September 27, 2012 10:46:47

Nokia probably for the first time since 1989, does not pay any dividend

Investors are worried that the Finnish Nokia due to problems with the lack of financial resources for its financing could for the first time in its history dating back stock since 1989 not to pay any dividend. The likely scenario, according to investors that Nokia missed a dividend payment in 2012. During the previous 4 years, the company gradually reduced its payout ratio by half to date on the last 20 cents per share. Company to maintain this amount would have to pay about 750 million euros. Monthly cost firms are moving at 300 mill.USD. Analysts say Nokia in the first half of this year underwent mld.EUR 2.34 and analysts estimate that losses will follow over the next approximately 6 quarters. The net amount of cash held by the halved to 4.2 mld.EUR and by the end of the year should fall to the 3 mld.EUR. Corporate debt levels reaching 5.2 billionEUR and some debt is approaching its maturity. The first 1.25 mld.EUR will mature in February 2014 and other debt expires in 2016/17/19. Any efforts to maintain the company after dividends analysts refer to as erroneous nonsense.

Nokia is trying to return to profitability including dismissal 20,000 employees, restrictions on production and research, patents and selling assets.

Shares of Nokia today strengthens by 1.7%. For the whole of this year, shares have lost 47% of its value, though since February 2011 have already lost 70%.
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Nokia asi poprvé od roku 1989 nevyplatí žádnou dividendu

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