Cellnex: more diversification and margins and multiply the dividend by 10 from 2026

Cellnex will focus on its main markets and sell non-strategic ones, as reported at its investor day, in which it announced the closing of the sale of the Irish subsidiary for 971 million. It also aims to increase diversification beyond towers, so that the rest of the businesses (what it calls augmented tower) will account for 15% of revenues in 2027. Likewise, to achieve efficiencies in rentals, it will create a vehicle – in which minorities may enter – to buy the land where the towers are located. It will pay a minimum of 500 million in dividends from 2026, ten times more than now. The dividend will grow at 7.5% annually and ensures a minimum distribution of 3,000 million euros in the five years between 2026 and 2030. S&P has announced today that it has given Cellnex investment grade, one of the major strategic objectives.

Cellnex is carrying out a strategic review of its portfolio to focus on core markets and businesses and selectively divest non-core business lines that have limited growth potential.

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