Telefonica | April 13, 2011 | Press Release
The company reiterates its commitment to pay a dividend of €1.75 per share in 2012 and announces a minimum annual shareholder remuneration target of €1.75 per share from 2012.
Madrid-London, 13 April 2011.- Telefónica today announced its shareholder remuneration policy and key growth forecasts for the coming years. The Company has once again bolstered its shareholder remuneration policy, confirming a payout of €1.75 per share in 2012 and a minimum annual dividend of €1.75 per share from 2012. The form of this remuneration (dividend, share buyback or a combination of both) will be decided considering circumstances and investors’ preferences by that time.
As part of its strategy through 2013 the Company also announced an annual revenue growth target of between 1% and 4% over the 2010-2013 period, an OIBDA margin at the upper 30s range, with limited erosion from 2010, and Capex of up to 27bn euros cumulative over the 2011-2013 period. [1]
César Alierta, the Chairman of Telefónica, will set out these forecasts to the international financial community at the 8th Investors’ Conference, where the Company’s senior executives will share their vision for the industry, the Company’s growth objectives and the key strategies over the coming years.
The conference will today hear presentations by César Alierta, Chairman of Telefónica, Santiago Fernández-Valbuena, Chief Strategy Officer, and Julio Linares, CEO of the Company, followed by the speeches from the heads of Terra Latam, Tuenti and Jajah. Contributions by José María Alvarez-Pallete, Chairman of Telefónica Latin America, Guillermo Ansaldo, Chairman of Telefónica España, and Matthew Key, Chairman of Telefónica Europe, are scheduled tomorrow. Tomorrows proceedings will get underway with a presentation by Luiz Inácio Lula da Silva, the former President of Brazil, who is appearing as an outside speaker.
Telefónica hosts around 300 analysts and investors at an event which it normally stages every eighteen months. The first edition of the Investors’ Conference was held in Río de Janeiro in March 2001 and was followed, in this order, by gatherings in Seville, Madrid, Barcelona, Valencia, London and Madrid, the latter atDistrict C, the Company’s headquarters, in October 2009.
It will be possible to follow both the speeches and the Q&A session which concludes tomorrow’s events live via the following link:
http://www.telefonica.com/ext/investor_conference/en/webcast.shtml
[1] AAGR: Average annual growth rate
The base figures for 2010 include the consolidation of Vivo, HanseNet and Tuenti for the entire year (12 months) and exclude the results of Manx Telecom in the first six months of 2010. Adjusted 2010 OIBDA excludes the capital gain from the revaluation of the previously held stake in Vivo at the date of acquisition of the 50% stake in Brasilcel held by Portugal Telecom, the non-recurring restructuring expenses reported in the second half of 2010, and the capital gain from the sale of Manx Telecom.
Constant 2010 exchange rates are assumed (average for the year), excluding the impact of hyperinflation accounting adjustments in Venezuela and changes in the consolidation scope. OIBDA excludes write-downs, capital gains/losses from the sale of companies and material non-recurring impacts, chiefly associated with restructuring expenses. Results from the Costa Rica operation are excluded from the guidance calculation. The Telefónica Group’s Capex excludes the Real Estate Efficiency Programme at T. España, the real estate commitments associated with Telefónica’s new headquarters in Barcelona and investments in spectrum
