BME:TEFTelecom
Does Telefónica (BME:TEF) Tie Dividend Ambitions to Core Free Cash Flow Strength?
On November 4, 2025, Telefónica announced third quarter 2025 earnings and updated its dividend policy, confirming a proposed €0.15 per share cash dividend for 2026 and outlining a new payout framework tied to free cash flow for 2027 and 2028.
This combination of financial disclosure and future dividend guidance has drawn heightened investor interest, particularly as the company signals a renewed focus on capital returns alongside operational performance.
We'll now examine how Telefónica's...