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

Quick Facts

Editors Pick
British drug maker AstraZeneca Plc reported Friday higher profit in its first quarter, reflecting lower charges and higher revenues. US and emerging markets performed well. Looking ahead, for fiscal 2016, the company continues to expect both revenue and earnings per share to decline a low to mid single-digit percentage at constant exchange rates. International Consolidated Airlines Group S.A. Friday reported profit for the first quarter, compared to loss in the prior year, mainly reflecting higher passenger revenues and increased capacity. For fiscal 2016, IAG still expects to generate an absolute operating profit increase similar to 2015 as it expects to reduce underlying ex-fuel unit costs by around one percent. French drug maker Sanofi reported Friday a higher profit in its first quarter, while net sales were hurt mainly by weak results in Diabetes unit and Venezuela. Excluding Venezuela. Aggregate Group sales increased 3 percent at constant exchange rates. Looking ahead, the company continues to expect 2016 business earnings per share to be broadly stable at CER.
comments powered by Disqus
Follow RTT