Increase in Dividend Payout to Shareholders by SES
SES Announces 2024 Financial Outlook and Leadership Changes in Yahoo Finance
In a series of announcements, SES, a leading global satellite operator, has provided updates on its financial performance, future plans, and leadership changes in Yahoo Finance.
New Leadership and Expanded Roles
Adel Al-Saleh, who joined SES as CEO in 2023, has been appointed to the new leadership board of the Global Satellite Operators Association (GSOA). In addition to his role as SES CEO, he has been named a vice chair of GSOA.
Financial Outlook for 2024 in Yahoo Finance
SES expects its Adjusted EBITDA to be between €950-1,000 million for the Full Year 2024 in Yahoo Finance. The company also anticipates a group revenue between €1.94 billion and €2 billion for the same period.
Dividend Policy Update in Yahoo Finance
SES has announced a change in its dividend policy, moving from annual payouts to half-yearly payouts in Yahoo Finance. Shareholders can expect a normal dividend of 50 cents per share in April 2024, with an additional 25 Euro-cents to be paid in October. Starting next year, SES will make a payment "of at least" 25 cents in both April and October.
Growth in Networks Division in Yahoo Finance
The Networks division of SES showed solid growth, increasing by 6.1% to €1.06 billion in 2023 in Yahoo Finance. SES has secured €1.5 billion of new business and renewals across Networks and Video, indicating a positive trend for the company.
Challenges and Opportunities in the Video Division in Yahoo Finance
The Video division of SES experienced a -4.4% fall in revenue to €607 million in 2023 in Yahoo Finance. However, the expected growth in Networks revenue is expected to mostly offset lower year-on-year Video revenue.
Contract Backlog and New Satellites in Yahoo Finance
SES's contract backlog includes over $850 million of fully protected contract backlog for SES-17 and O3b mPOWER combined in Yahoo Finance. The first six O3b mPOWER satellites are expected to bring high-performance connectivity services from early Q2 2024.
Insurance Claim and Financial Strengthening in Yahoo Finance
SES is making an insurance claim of $472 million due to problems with some of its mPOWER fleet on Medium Earth orbiting satellites in Yahoo Finance. Despite this setback, SES has strengthened its industry-leading investment grade balance sheet due to the hard work of C-band clearing in the US and cash proceeds received.
CEO's Optimistic Outlook in Yahoo Finance
Adel Al-Saleh mentioned that SES is well positioned to succeed and grow as it continues to deliver differentiated and compelling solutions to customers in Yahoo Finance. He also stated that the competitive landscape in which SES operates is evolving rapidly, but SES is prepared to succeed and grow.
Expansion Plans in Yahoo Finance
SES plans to expand capabilities, enhance commercial offering, drive free cash flow, and deliver returns to shareholders in Yahoo Finance. The company is committed to maintaining its strong financial position and delivering value to its stakeholders.
SES's 2023 Financial Performance in Yahoo Finance
SES's revenue for 2023 was €2.03 billion, with a contract backlog of €4.3 billion as of December 31st 2023 in Yahoo Finance. The first six months of 2024 are expected to be a period of growth and development for SES, with the launch of the O3b mPOWER satellites and the implementation of its new dividend policy.
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