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Telefónica Deutschland Confirms FY20 Outlook; Announces Enhanced Dividend Proposal

Telefónica Deutschland Holding AG (TELDF.OB,TFTHF.OB) said the company has delivered solid nine-month results with improving trends in the third quarter. Telefónica Deutschland confirmed its fiscal 2020 outlook.

Telefónica Deutschland refined midterm guidance. The company maintained its investment for growth programme launched a year ago. This network focused programme is expected to deliver cumulated revenue growth of minimum 5% over the three-year period 2020-22.

The company said it continues to target a strong balance sheet with significant financial flexibility and low leverage. With a leverage ratio of 1.6x as of 30 September 2020, the company is well below its self-defined target.

Telefónica Deutschland announced an enhanced shareholder remuneration. The company plans to propose an increased dividend of 18 euro cents per share for fiscal 2020 to the AGM in May 2021. A dividend of 18 euro cents will also be the increased floor for the years 2021 to 2023 extending the current dividend floor period by one year.

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