GO plc on Thursday announced that its Board of Directors has discussed and approved the payment of a net interim dividend of €15.2 million.

The dividend amounts of €0.15 net of taxation per share, and represents part of the proceeds received from the transaction with BMIT Technologies, which was concluded in December.

The telecommunications company confirmed that the interim dividend will be paid on 1st February 2024 to all shareholders who appear on the shareholders’ register on 18th January 2024.

The transaction, for which discussions commenced earlier in 2023, sees BMIT now own 278 sites that make up the passive telecoms assets necessary for GO’s network to function, for a total figure of €46.6 million.

The deal also includes the transfer of an employee responsible for managing the sites, as BMIT is now also responsible for maintaining the cell towers and providing GO with hosting and co-location services for an initial 30-year period. This will be automatically renewed for further five-year periods unless otherwise agreed.

The two also entered into a transitional services agreement, through which GO shall provide certain support services to BMIT with regards to the cell tower network during the initial transition period lasting 12 months.

Last year, a spokesperson for GO told WhosWho.mt that the proceeds from the transaction will allow the telecoms company to continue investing in its technology, products and services in order to provide a better customer experience.

GO is one of Malta’s leading telecommunications providers, with its services including fixed-line and mobile telephony, together with data and TV services for both consumers and business clients.