Telkom on Tuesday posted a full-year profit of R1.9-billion and said it would consider resuming dividends from 2025.
The company restated its year-earlier result, a loss after tax of R9.9-billion, reflecting restructuring costs.
Its latest earnings saw write-offs of property, plant and equipment and intangible assets fall to about R80-million from R13.5-billion.
The operator said it will be in a position to pay dividends in the near term, with its financial year 2025 targeted as the first year-end to consider paying a dividend.
As part of a revised dividend policy, the board proposes a dividend payout range of 30-40% of free cash flow after taking into account capital expenditure investments, it said.
Its short to medium-term priorities are to strengthen its balance sheet by paying down debt and to invest in capital expenditure to drive future growth, it said.
Telkom reported a 1.6% rise in group revenue to R43.2-billion, with mobile service revenue up by 6.8% to R19-billion, driven by demand for mobile data and fibre services. — (c) 2024 Reuters