Telefónica will distribute its dividend in cash, as before the pandemic.

The company improves the amount for its shareholders by up to 0.30 euros in the new course and finally abandons the

scrip dividend

formula , based on the distribution of company shares.

Compared to the 0.20 euros per share in 2021, Telefónica undertakes a 50% increase to the aforementioned 0.30 euros that it offers for 2022.

It is true that in 2020 Telefónica offered its shareholders a higher amount, 0.40 euros, but that year the

scrip

modality began , not always to the liking of those who hold shares in a listed company.

The new 0.30 euros, already in cash, will be distributed in

two payments, one in December 2022 and the other in June 2023

.

The operator chaired by José María Álvarez-Pallete has also communicated its results for the year expired, 2021, with a net profit figure that is easily five times that of the previous year: in 2021, Telefónica earned

8,137 million euros

, for the 1,582 million 2020.

However, the new magnitude must be qualified: it is conditioned by the capital gains obtained as a result of the materialization of the merger of O2 and Virgin Media in the United Kingdom as well as by the sale of the Telxius towers.

In fact, the figures were even more spectacular when calculating the first nine months, up to September, when Telefónica exceeded 9,000 million euros in revenue.

The Spanish economy, as reflected in the Gross Domestic Product (GDP) data, moderated its growth in the last quarter of the year, but the explanation for Telefónica's case is different: the company has had to

provision 1,382 million euros to undertake its new voluntary redundancy plan

, to which 2,418 workers have finally accepted.

The income reported by this

teleco was

somewhat lower in 2021 than in 2020, specifically representing -8.8% year-on-year.

Thus, Telefónica reaped 39,277 million, compared to 43,076 million the previous year.

The OIBDA, operating result before depreciation and assimilable in the telecommunications sector to the EBITDA of other companies, skyrockets to 21,983 million euros (grows 62.9% year-on-year due to capital gains).

Spain continues to represent the multinational's main market:

29% of revenues

(and 30% of OIBDA) are achieved in this territory.

Next, in income, would appear Latin America, with 20%, Germany (18%), Brazil (16%) and the United Kingdom (15%).

The

net financial debt

, which Álvarez-Pallete is progressively managing to reduce, is quantified at the end of the year at 26,032 million euros,

26.1% less

than the magnitude of that liability at the end of the previous year: 35,228 million euros.

The company attributes this merit to the closure of pending operations and the endurance of cash flow, 3,755 million excluding spectrum payments.

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