This Monday will be the last day to buy Telefónica shares with the right to the dividend of 0.15 euros

The State will collect 85 million euros for its 10% participation in the telecom company through SEPI

June 16 () –

This coming Monday, June 17, will be the last day on which investors will be able to acquire Telefónica shares with the right to receive the first tranche of the company’s dividend charged to freely available reserves, which will amount to 0.15 gross euros per title and will be paid on June 20.

Last April, Telefónica shareholders agreed to a dividend of 0.3 euros gross per share charged to freely available reserves for 2024 and payable in two tranches, the first of which –0.15 euros– will be paid the week coming, while the second part – also of 0.15 euros – will be disbursed on December 19.

In this way, shares that are traded beyond the close of the stock market next Monday will not have the right to this first tranche of the dividend, according to the calendar set by the operator.

Although the payment of the first tranche of Telefónica’s dividend will be disbursed on June 20, it will be on the previous day (June 19) when the holders who will have the right to collect it will be determined.

The withholdings required by the applicable regulations will be made on the 0.15 euros per title that Telefónica will pay.

THE STATE WILL COLLECT 85 MILLION

In this context, the State will collect on June 20 a total of 85.05 million euros in dividends from Telefónica due to the 10% stake it holds in the teleco through the State Industrial Participations Company (SEPI).

SEPI’s shareholding package in Telefónica is currently made up of 567,016,696 shares, so in June it will receive a total of 85.05 million euros gross – a figure on which the withholdings set by regulations will be applied – and in December (if his participation remains the same) he will earn another 85.05 million euros, bringing the total remuneration in 2024 to 170.1 million euros.

On May 20, the SEPI completed the Government’s mandate to acquire up to 10% of Telefónica, an operation whose amount rose to almost 2,285 million euros and which was marked by the surprise landing of the Saudi operator STC in the capital of the Spanish telecom company, of which in September 2023 it acquired 9.9% – 4.9% in direct shares and 5% in financial derivatives – for 2.1 billion euros.

Precisely, next week STC will receive a total of 42.26 million euros in dividends for its direct 4.9% stake in Telefónica, while it will not receive remuneration for the 5% it maintains in financial derivatives.

The STC operator, which is 64% controlled by the Saudi sovereign fund (Public Investment Fund, PIF), currently has a total of 281,772,449 direct shares of Telefónica – representing 4.9% of the share capital of the company– and with 287,522,907 securities through financial derivatives (5%).

If STC does not change its weight in Telefónica and makes its participation effective through financial derivatives until December 16, 2024 – the last date on which the company’s securities will be listed with the right to dividend before the payment of the second tranche of 0, 15 euros per share–, the Saudi operator will receive another 85.39 million euros at the end of the year.

In this scenario, the Saudi company would receive a total of 127.65 million euros in 2024, while if it does not make effective its indirect participation and nothing changes until then its remuneration via dividends from Telefónica for the entire year will remain at 84. 52 million euros (he would earn another 42.26 million euros in December).

On the other hand, the share package of CriteriaCaixa – the holding company of the la Caixa Banking Foundation – in Telefónica amounts to 287,925,060 shares (5.007% of the company’s share capital), so next week it will receive 43.18 million euros in dividends from the telecom company chaired by José María Álvarez-Pallete.

However, CriteriaCaixa announced on May 21 its intention to reach 10% of Telefónica’s share capital to place its participation at the same level as that held by the Government through the SEPI with the aim of supporting the shareholder stability of the company. company.

10% of Telefónica represents 567,016,155 shares, so, if CriteriaCaixa manages to reach that position before December 16, 2024, it would have the right to collect around 85.05 million euros at the end of the year and a total of 128.23 million euros in the entire year.