logo
Share SHARE
FONT-SIZE Plus   Neg

Telefonica To Pay Scrip Dividend, Cancel Own Shares : WSJ

Spain's biggest telecom company Telefonica SA (TEF,TDE.L) has proposed to pay a scrip dividend and cancel its treasury stock, while the proposal would be submitted for shareholder approval in mid-May, according to the Wall Street Journal.

Also a Telefonica spokesman noted that the cancellation of the treasury stock "will roughly offset" the dilutive effect of issuing new shares for the dividend. Telefonica owns nearly 1.9% of its shares.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Taco Bell, a division of Yum! Brands Inc, is planning to test delivery of food items on college campuses, the Street reported. The move comes at a time the fast food chain seeks to leverage demand for its popular breakfast and dinner items. In an unusual incident, an Airbus operated by Singapore Airlines temporarily lost power on both its Rolls Royce engines during a flight and plunged almost 13,000 feet or 3.96 kilometers. However, pilots managed to save the Airbus through standard operational procedures and it continued on its routine path. Hormel Foods has agreed to buy organic meat products maker Applegate Farms LLC for about $775 million, as consumers increasingly use natural and organic foods in their diet.
comments powered by Disqus
RELATED NEWS
Trade TEF now with 
Follow RTT