September 6 (Reuters) – The American mobile network operator T-Mobile US (TMUS.O) revealed on Wednesday that it has approved a capital return plan for shareholders worth up to $19 billion, slated to continue until the end of December 2024.
As a component of this capital return scheme, the company plans to issue its inaugural dividend, which is expected to be around $750 million, in the fourth quarter of 2023.
The firm anticipates disbursing an extra $3 billion in dividends during 2024, with these payments being made quarterly throughout the year, in addition to executing share buybacks. T-Mobile also stated that it anticipates the dividend per share to increase by approximately 10% each year.
This new capital return initiative complements the company’s earlier declared $14 billion share buyback authorization, which the Board approved in September of the previous year.