Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Telefonica To Pay Scrip Dividend, Cancel Own Shares : WSJ

RELATED NEWS
Trade TEF now with 

Spain's biggest telecom company Telefonica SA (TEF: Quote,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.

Click here to receive FREE breaking news email alerts for Telefonica SA and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
British manufacturing growth eased further in August to its lowest level in 14 months as output and demand increased at slower rates, survey results from Markit Economics showed Monday. The Markit/CIPS Purchasing Managers' Index dropped to 52.5 from a revised 54.8 in July. Economists had expected the score to fall to 55.1 from July's original figure of 55.4. Consumers spent less in July than in the previous month, a surprise retreat that complicates the prevailing belief that the U.S. economic situation is improving. Along with the unexpected drop in spending, government figures released on Friday showed that incomes rose at a slower pace in July than in the previous month. Meanwhile, data on prices indicated that inflation pressures remain tame. India's economy grew faster-than-expected in the three months to June and at the strongest pace in two years, preliminary figures from the Central Statistics Office revealed Friday. Gross domestic product grew 5.7 percent in the April to June quarter, which exceeded economists' forecast for 5.5 percent expansion. The economy grew 4.6 percent in the previous three months.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.