The new president of Telefonica confirms the dividend – Investing.com Spain

MADRID (Reuters) – The new president of Telefonica (MC :), Jose Maria Alvarez Pallete, ratified on Friday the group’s dividend policy and pledged to pay a dividend of 0, 75 euros per share in 2016.

Pallete, in its first board in front of the operator, decided to maintain the group’s strategy and targets announced earlier this year, estimating an increase of over 4 percent in revenue and stabilize margins.

“During his first speech as president of the Council Alvarez-Pallete has ratified the strategy (…) and commercial and financial targets announced to the market last February. These include an explicit commitment to shareholders through an attractive remuneration policy, including the distribution of a dividend of 0.75 euros per share in 2016, “Telefonica said in a note.

in addition, the group has renovated part of the board – in which Cesar Alierta and president, will remain as a director -. and has proposed to the board the appointment of four independent vowels

Ignacio Cirac, Javier Echenique, Sabina Fluxá and Peter Löscher replace Fernando de Almansa, Carlos Colomer, Santiago Fernandez Valbuena and Alfonso Ferrari (NYSE :).

These appointments will have to be ratified by shareholders.

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