TX Group adjusts dividend policy following special distribution by SMG
Published: Friday, Nov 29th 2024, 08:10
Back to Live Feed
The Zurich-based TX Group is adjusting its dividend policy. The aim is to smooth out fluctuations and improve predictability. The impetus for this is a special distribution by the subsidiary Swiss Marketplace Group SMG.
After SMG, in which the TX Group holds a 30.75 percent stake, has not paid a dividend since it was founded in 2021, a special distribution totaling 230 million Swiss francs has now been decided. According to a press release issued on Friday, the TX Group will receive CHF 71 million of this amount. This sum will flow into the Group's free cash flow.
TX Group now intends to extend the range of the free cash flow after dividends to minority interests etc. on which its own distribution is based to between 30 and 50 percent. This means that a dividend of CHF 4.00 per share will "definitely" be proposed from the funds available for the current and the following two financial years.
The group under the umbrella company TX Group comprises four independent companies. In addition to SMG (online marketplaces), these are Goldbach (advertising marketing), 20 Minuten (commuter media) and Tamedia (paid newspapers and magazines, including Tages-Anzeiger).
©Keystone/SDA
English 
German 
French 
Spanish 
Arabic