February 23, 2018 / 7:18 AM / 7 months ago

Satellite company SES slashes dividend after difficult year

Feb 23 (Reuters) - Luxembourg-based satellite company SES said on Friday it was slashing the dividend on its A shares by 40 percent, in a bid to strengthen its balance sheet after a year which it said was below its expectations.

The company said it was proposing a dividend of 0.80 euros per A share for 2017, compared to 1.34 euros for 2016.

The company reported 2017 earnings before interest, tax, depreciation and amortisation (EBITDA) of 1.32 billion euros, in line with a Reuters poll of analysts. (Reporting by Alan Charlish; Editing by Edmund Blair)

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