UPDATE 1-Millicom to return $800 mln to shareholders

* Says to pay an additional dividend of $4.60/shr

* To buy back up to $300 mln of shares

(Adds details)

April 15 (BestGrowthStock) – Emerging markets telecoms firm Millicom
(MICC.O: ) (MICsdb.ST: ) said it would return up to $800 million to
shareholders through a special dividend and a share buyback

The company said it will pay a special dividend of $4.60 per
share in addition to the proposed annual dividend of $1.40 per

Millicom will also initiate a share repurchase plan of up to
$300 million, the company said.

The share repurchase plan is to be executed through open
market purchases on Nasdaq by the end of 2010 within the
authorisations obtained at the 2009 Annual General Meeting

Further authorisation to complete the share repurchase plan
will be sought from shareholders at the May 2010 AGM, it added.

Shares of the company closed at $89.23 Wednesday on Nasdaq.

Stock Research

(Reporting by Shrutika Verma in Bangalore; Editing by Erica

UPDATE 1-Millicom to return $800 mln to shareholders