Telefónica, who had said before that it would adhere to its plans to pay 0.75 euro per share dividend for the 2016, said it will cut the dividend to 0.55 euros per share in 2016.
Madrid (Reuters).- The telecommunications group Spanish Telefonica, under pressure to trim its debt after the sale of your business british O2 was blocked by regulators, said today that it will cut its dividend this year and next year.
Telephone, who had previously said that they would adhere to their plans to pay 0.75 euro per share dividend for the 2016, said it will cut the dividend to 0.55 euros per share in 2016 and 0.40 euros per share against the earnings from 2017.
The firm said that the cuts in dividends are intended to accelerate your debt reduction plan.
"we will Continue to monitor the process of deleveraging of the Phone. The cut of the dividend announced today is really another step toward preserve cash and reduce debt," said the analyst of Moody’s, Carlos Winzer.
revenues of Telephone amounted to 13,080 million euros (US$ 14,270 million) in the third quarter, slightly above a forecast average of 13,070 million euros obtained in a survey by Reuters among analysts.
The firm posted a profit structural (EBITDA) of 4,200 million euros in the quarter, above a forecast of 4,070 million euros.
In the list of divestitures in addition to the already well-known O2 and Telxius, returns to arise in Mexico, where the president of Telefónica, José María Álvarez Pallete, said to be analyzing alternatives.
"Our decision will depend on how to evolve the market. We don’t see it as a market-rational", explained the president of the group.
No comments:
Post a Comment