Netia, Poland's second largest telecommunications group is considering the implementation of a share buyback programme totaling 128 million zlotys or about US$41.2 million in 2013. Furthermore, the company is also planning to return about 145 million zlotys more to its shareholders.
This plan is achievable through its rapid expansion, turning a net loss of 88 million zlotys in 2012 to a plus profit of 249 million zlotys back in 2011. Because of the losses, dividends have not been paid out to its shareholders as the company's board opted to acquire smaller competitors and rivals in the Polish market to become a viable competitor to the country's number one brand, TPSA. TPSA is a subsidiary of France Telecom and other cable TV providers.
The payout is hinged on the expected growth and performance of Netia for 2013. The company has also previously bought back about 8.3 percent of its shares and the cash would be paid out not only in buybacks, but in dividends and even capital redemptions.
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