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TalkTalk cuts final dividend in drive to grow customer base
May 10, 2017 / 6:25 AM / 6 months ago

TalkTalk cuts final dividend in drive to grow customer base

LONDON, May 10 (Reuters) - British broadband company TalkTalk’s cut its dividend on Wednesday as founder Charles Dunstone, who became executive chairman earlier this month, said he would focus on returning the business to customer growth.

The company, which competes with BT, Virgin Media and Sky, reported full-year earnings of 304 million pounds ($394 million), up 17 percent but short of its own 320-360 million guidance.

The group cut its final dividend to 5.0 pence from 10.58 pence a year ago.

“My focus for the company is growth, cash generation and profit – in that order,” Dunstone said on Wednesday. ($1 = 0.7717 pounds) (Reporting by Paul Sandle; editing by Costas Pitas)

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