Millicom raises 2026 cash flow target, declares $1.50 dividend

Millicom International Cellular S.A. (NASDAQ: TIGO), the Latin American telecommunications company, raised its 2026 equity free cash flow target and declared an interim dividend, according to a company statement issued Aug. 6, 2026.

Millicom increased its 2026 equity free cash flow target to approximately $1.1 billion, up from a previous target of at least $900 million. The company also lowered its year-end net leverage target to below 2.5x, compared with its prior target of around 2.5x.

The company's board of directors declared an interim dividend of $1.50 per share, to be paid in two equal installments of $0.75 per share. The first installment is scheduled for payment on or around Jan. 15, 2027, with a record date of Jan. 8, 2027. The second installment is scheduled for payment on or around April 15, 2027, with a record date of April 8, 2027. Both payments will be made in U.S. dollars.

Dividends will be subject to a 15% Luxembourg withholding tax, with payments made net of that amount. Reduced rates or exemptions may apply under certain conditions.

Chief Executive Officer Marcelo Benitez said the results reflect the company's focus on customer experience, operational discipline, and efficiency, adding that the performance supports raising the cash flow target and enhancing shareholder returns.

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