Overview
- The company will keep the €0.30 cash dividend for 2025 in two payments scheduled for December 2025 and June 2026.
- For 2026, it will pay €0.15 per share in a single cash distribution in June 2027.
- Management set 2027–2028 shareholder remuneration at 40–60% of free cash flow, pending board approval.
- The Transform & Grow plan targets revenue growth of 1.5%–2.5% in 2025–2028, accelerating to 2.5%–3.5% in 2028–2030, with efficiency gains of up to €2.3 billion by 2028 and €3 billion by 2030.
- Telefónica will focus on Spain, Germany, the UK and Brazil, invest in AI and networks, and stay prepared for European consolidation, which the plan document cites as offering €18–22 billion in potential synergies according to analysts.