Telefonica falls on lingering dividend policy concerns, guidance cut

Telefonica SA

Yesterday 08:55

** Shares in the Spanish telecom company Telefonica TEF.MC fall about 2% as unchanged dividend plans and outlook cut weigh
** Telefonica reiterates plans for a cash dividend of €0.15, while revising its 2026 revenue growth target downwards
** Alphavalue says results are fairly good, but the company's strategy still disregards dividends; the broker sees potential for 4% annual hikes 
** "The dividend cut implemented by (CEO and Chairman) Marc Murtra more than a year ago remains the main issue, and investors may still take time to return to a fundamentally undervalued stock," the broker says
** J.P. Morgan says outlook cut is mainly due to lower handset sales

(Reporting by Gemma Guasch)
((Gemma.guasch@thomsonreuters.com))