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.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.