MILAN, Feb 24 (Reuters) - Italian telecoms tower company INWIT plans to raise its 2021 dividend by 7.5% to 0.3225 euro a share, the company said on Thursday, as core profits increased to meet the low end of the company's financial targets.
INWIT said its full-year earnings before interest, tax, depreciation and amortization (EBITDA) rose by 4.7% on a like- for like basis to 715 million euros ($797 million), matching an analyst consensus provided by the company.
INWIT had targeted a full year core profit in a range of 715-725 million euros.
Revenue in the year rose by 4.6% to 785 million euros.
Born as a spin-off of Telecom Italia's mobile tower operations, INWIT merged in 2020 with rival Vodafone's mast business in Italy to create the country's largest telecoms tower firm, managing 22,000 towers across the country.
Telecom Italia (TIM) is considering selling its stake in INWIT to French investment fund Ardian as part of its efforts to shore up its finances, a source close to the matter said on Wednesday. ($1 = 0.8976 euros) (Reporting by Elvira Pollina Editing by Keith Weir)
Telecom Italia (TIT.MI)
Vodafone (VOD)