23rd Feb 2005 18:04
Telefonica SA23 February 2005 Telefonica S.A., as provided in article 82 of the Spanish Stock Market Act (Leydel Mercado de Valores), hereby reports the following SIGNIFICANT EVENT According to the shareholder remuneration policy approved by the Company's Boardof Directors, and in accordance with the resolution adopted at its meeting ofJanuary 26th, 2005, Telefonica's Board of Directors, at its meeting held today,has approved to distribute an interim dividend, from 2004 net income, of a fixgross amount of Euro 0.23 for each outstanding share with the right to receivedividends of the Company. The payment of this dividend shall be executed, as it has been alreadyannounced, on May 13th , 2005, through the participating entities in Iberclear(Sociedad de Gestion de los Sistemas de Registro, Compensacion y Liquidacion deValores, S.A.), the Spanish entity in charge of registration, clearing andsettlement of securities. Tax withholding shall be made on gross amounts asrequired by applicable legislation. Likewise, and in accordance with the aforementioned resolution adopted at itsmeeting of January 26th , 2005, the Board of Directors has resolved to proposeto the next Annual General Shareholders Meeting, the distribution of a dividendin cash, from the Additional Paid-in Capital Reserve, of a fixed amount of Euro0.27 per share. The payment of this dividend is subject to its approval by theabove mentioned Annual General Shareholders Meeting, and shall be made inaccordance with what it was announced by the Company, on November 11th, 2005. By distributing both of the above mentioned dividends, Telefonica's Board ofDirectors implements the resolution adopted at its meeting held on January 26th2005, to distribute a total amount of Euro 0.50 per share corresponding tofiscal year 2004. Madrid, February 23rd , 2005. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
TDE.L