Kitz Forum

Announcements => News Articles => Topic started by: gt94sss2 on May 07, 2020, 08:24:32 AM

Title: BT up FTTP target and axe dividend
Post by: gt94sss2 on May 07, 2020, 08:24:32 AM
Quote
Philip Jansen, Chief Executive, commenting on the results, said

"We have the largest and most extensive fixed network and are leading the UK on the next generation Fibre-to-the-Premises (FTTP) network where we now pass 2.6 million premises. Today we are announcing a rapid acceleration of our FTTP build with a target of 20 million premises passed by the mid- to late-2020s, including a significant build in rural areas. After passing 1.3 million premises last year, we are aiming at over 2 million in 2020/21, and envisage a maximum build rate of 3 million premises per year.

"The continued delivery of market leading customer experiences remains core to our success, with a focus on driving the take-up of converged product offerings such as Halo, our premium converged offering for homes and businesses. In the short period since launch, Halo now represents over 30% of our BT consumer broadband base.

"BT is delivering, but is also changing. BT needs to be leaner, simpler and more agile. Today we are announcing a radical modernisation and simplification programme that will use technology to create a better BT for the future. This 5-year initiative will re-engineer old and out of date processes, rationalise products, reduce re-work and switch off many legacy services. This next stage in the modernisation of BT will deliver gross annualised savings of 2 billion over the next 5 years


FTTP rollout at c.32k premises passed per week; FTTP premises passed to date doubled in the year to 2.6m

https://www.telegraph.co.uk/technology/2020/05/07/bt-cuts-dividend-fund-12bn-spending-spree/

https://www.ispreview.co.uk/index.php/2020/05/bt-invest-12bn-on-fttp-broadband-for-20-million-uk-premises.html

https://newsroom.bt.com/results-for-the-full-year-to-31-march-2020/
Title: Re: BT up FTTP target and axe dividend
Post by: Ixel on May 07, 2020, 11:19:47 AM
Interesting times ahead!
Title: Re: BT up FTTP target and axe dividend
Post by: Bowdon on May 07, 2020, 11:40:22 AM
I'm glad to see BT are in full steam ahead mode.

Now I just need them around my way  ;D
Title: Re: BT up FTTP target and axe dividend
Post by: licquorice on May 07, 2020, 11:58:00 AM
I'd rather they paid my dividend, shares are worthless now!
Title: Re: BT up FTTP target and axe dividend
Post by: sevenlayermuddle on May 07, 2020, 12:54:44 PM
I'd rather they paid my dividend, shares are worthless now!
Ditto
Title: Re: BT up FTTP target and axe dividend
Post by: gt94sss2 on May 07, 2020, 02:21:07 PM
I suspect most of the change in the share price today is to do with the fact that o2 and Virgin Media are too merge, rather than the dividend cut.

Though of course, the decision will hurt those who rely on dividend income.