Friday, 28 July 2017

Telefonica reduces dividend as Q3 revenue falls

By Nick Wood, Total Telecom
Thursday 27 October 16

Shareholders miss out as Spanish incumbent decides to pay down debt based on organic cash flow.

Telefonica on Thursday announced it is reducing dividends for 2016 and 2017, as it seeks ways of paying down debt in the wake of its unsuccessful O2 UK sale and scrapped Telxius IPO. The Spanish incumbent said that it now plans to reduce its hefty net debt based on positive organic cash flow generation. Consequently, Telefonica shareholders will receive €0.55 per share in 2016, down from &euro…

Telefonica on Thursday announced it is reducing dividends for 2016 and 2017, as it seeks ways of paying down debt in the wake of its unsuccessful O2 UK sale and scrapped Telxius IPO. The Spanish incumbent said that it now plans to reduce its hefty net debt based on positive organic cash flow generation. Consequently, Telefonica shareholders will receive €0.55 per share in 2016, down from &euro…

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