Home & Office
C&W dips into £4.7bn cash pile to keep investors sweet
The benefits of being a telco without debt...
![zd-defaultauthor-ian-jones.jpg](https://www.zdnet.com/a/img/resize/4275f784c702c94904cebf0a1b7a130997833f04/2014/12/04/27c2cc84-7b68-11e4-9a74-d4ae52e95e57/zd-defaultauthor-ian-jones.jpg?auto=webp&fit=crop&frame=1&height=192&width=192)
The benefits of being a telco without debt...
Cable and Wireless profits slumped nearly 85 per cent in the first half of the financial year, prompting the telco giant to kick-start plans to buy back 15 per cent of its shares. The company will also give shareholders a one-off dividend totalling £300m - 11.5p per share - to preserve their goodwill. The company claims the poor results, share buy-back and shareholder dividend will not jeopardise its ability to invest in new products and technologies needed to move the company forward. C&W is currently one of the few telecoms leviathans that doesn't suffer from a crippling debt mountain. Investors are believed to have recently lobbied the firm to hand some of its cash pile - which now totals £4.7bn following the sale of Optus - back to shareholders. In its latest financial results, C&W made profits of £83m for the six months to the end of September, as opposed to £537m for the same period last year.