The Board of Everything Everywhere Ltd has approved the payment of an additional dividend of GBP 250.0 million to the Company's shareholders, Orange Telecommunications Company Limited (the UK subsidiary of France Telecom) (GBP 125.0 million) and T-Mobile Holdings Limited (the UK subsidiary of Deutsche Telekom) (GBP 125.0 million) effective as per June 28, 2012.
The Company intends to fund the payment of the additional dividend through the available liquidity at the end of June, 2012 whilst providing sufficient headroom for the Company to meet its financial obligations and support its overall investment programme.
The Company remains committed to its financial policy of achieving, in the medium term, a leverage ratio below 1.75x to 2x times Net Debt / EBITDA.
The additional dividend will be paid in full on June 28, 2012 and details thereof will be provided in the Company’s interim financial statements for H1 2012 which will be published on July 25, 2012.
EE is the most advanced digital communications company in Britain, providing mobile and fixed line services to 27 million customers, and will soon become the first company in the UK to provide 4G mobile services alongside fixed-line fibre.
EE is the company that runs the Orange and T-Mobile brands in the UK, and will be launching its new superfast 4G brand – EE – in the coming weeks. Its 4G service will cover a third of the population by the end of 2012 and its fibre service will cover 50% of the population by the end of the year.
EE's mobile service currently provides coverage to 99% of the population with 2G and 98% of the population with 3G
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