OTE Group dividends in 2007 worth €345 mln

Last year, OTE paid its shareholders dividends worth €0.55 per share, for a total of €270 mln. The rise comes from the fact that OTE, now single shareholder of Cosmote Group, will obtain €90 mln more from dividends of the mobile telephone group, representing 100 percent of dividends, compared to a mere 66 percent in 2006. Last year, the Cosmote Group paid dividends of €0.73 per share. Official results of the OTE Group will be reported in the second half of March.

The Athens stock exchange has begun making public a portion of Cosmote Group shareholders who have sold OTE Group shares in a public offer which ended last month, including members of Cosmote Group’s management and the Executive Director of Germanos, telecom retail network owned by OTE, who together sold 133,440 shares for €3.44 mln.

While the Athens bourse was publishing the names of Cosmote Group’s management who sold to OTE, Citigroup announced its estimates on OTE’s evolution over three years, namely 2007, 2008 and 2009. For 2007, the American bank group is estimating total revenue worth €6.28 billion, compared to €5.89 bln in 2006.