Equity Analysis /
Croatia

Hrvatski Telekom: Plenty of cash with nowhere to go but back to shareholders

  • Despite declining top line, HT will continue to hold a dominant position in Croatia while sustaining profit margins.

  • Ensured dividend pay-out coupled with pick-up in share buyback results in above average yield.

  • Excess cash could potentially be paid out as dividend or returned via share buyback.

Tea Pevec
Tea Pevec

Head of Research

InterCapital
26 May 2021
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