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BT declares a maintained interim dividend of 4.62p per share

Investment Tools Ltd.
BT declares a maintained interim dividend of 4.62p per share

BT have declared an interim dividend of 4.62p per share, 30% of last year's full-year dividend of 15.4p per share.

Other financial highlights include:

Reported revenue £11,467m, down 1% mainly reflecting the impact of regulation, declines in legacy products, and strategically reducing low margin business 

Reported profit before tax £1,333m, broadly flat year on year; adjusted EBITDA £3,923m, down 3% due to lower revenues, increased spectrum fees, content costs and investment to improve competitive positioning partly offset by cost savings from transformation programmes 

Net cash inflow from operating activities of £2,173m; normalised free cash flow of £604m, down 38% due to increased capital expenditure, higher interest and tax payments, partially offset by one-off cash flows

Capital expenditure £1,882m. Up £225m excluding BDUK grant funding deferral, driven by increased network investment 

Net debt increased primarily due to implementation of IFRS 16, £6.1bn, and net business cash outflows, £1.2bn

Overall financial outlook maintained

Companies mentioned

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