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November 9, 2015

Could TalkTalk hack hit dividend payout?

News: City speculates ahead of firm's results.

By Charlotte Henry

Under fire Telecoms firm TalkTalk may not be able to pay out dividends to shareholders, as the fallout of the recent cyber security breach on its website continues.

A City source told CBR that while the cyber attack would not be a direct cause if a dividend was not paid, it would be "the straw that broke the camel’s back."

They also said that paying shareholders whilst being the wrong side of consumer sentiment would be a bad PR move.

The Telegraph has reported Citi bank analysts also predicting that there will be no dividend.

The source said: "I don’t think they should have paid a dividend in the last 2 or 3 years", and said that the firm "would have to borrow in order to pay its shareholders this time around."

Last week TalkTalk said that 4% of its customers had been affected by the data breach.

TalkTalk declined to comment on the speculation. Its latest set of results will be out on Wednesday.

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