By Leo Marchandon and Jakob Van Calster (Reuters) -KPN plans to invest more than 5 billion euros ($5.83 billion) in the Netherlands through 2030, focusing on fibre-optic networks, 5G, artificial
KPN to invest more than 5 billion euros in Netherlands by 2030, raise dividends
By Leo Marchandon and Jakob Van Calster
(Reuters) -KPN plans to invest more than 5 billion euros ($5.83 billion) in the Netherlands through 2030, focusing on fibre-optic networks, 5G, artificial intelligence and cybersecurity, the Dutch telecoms group said on Wednesday.
The company said it would raise dividend payouts to shareholders from 2026, distributing 80% of free cash flow as dividends.
KPN set dividends at 0.20 euro per share in 2026 and 0.25 euro per share in 2027.
The company's shares rose 1.7% at 0815 GMT against a bearish pan-european STOXX index, which fell about 0.3%.
The group delayed its cost-cutting target, now aiming to save 100 million euros in annual operating costs by 2030 instead of 2025.
Capital spending is projected to fall below 1 billion euros in 2027 before stabilising, the company said.
KPN, which already connects 70% of Dutch households with fibre, said it would lift its previous plan and aim to reach 85% by 2030, from 80% by 2026.
The telecom operator added that it is working with the Dutch government and private partners to develop independent cloud infrastructure.
($1 = 0.8575 euros)
(Reporting by Leo Marchandon and Jakob Van Calster in Gdansk; Editing by Sumana Nandy and Anna Pruchnicka)
