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Data last updated: Oct 12, 2026
Snapshot (as of Oct 12, 2026): Telefónica, S.A. (TEFOF) pays a $0.15 annual dividend, yielding 4.78% at $3.61/share. Next ex-dividend date 2026-06-16. Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 4.78%
Annual Dividend: $0.15 per share
Payout Ratio: 250.0% (based on depressed trailing earnings — see safety analysis below)
Ex-Dividend Date: 2026-06-16
Dividend Frequency: semi-annually
Sector: Communication Services
Years of Dividend History: 24
Telefónica, S.A. dividend investors are looking at a 4.78% yield from one of Europe's largest telecom operators, serving residential and business customers across Spain, Brazil, Germany, and the United Kingdom. The trailing annual dividend rate stands at $0.15 per share, paid semi-annually, with the next ex-dividend date on June 16, 2026. TEFOF offers home connectivity, cloud services, cybersecurity, and IoT solutions, giving it exposure to both consumer and enterprise demand. A beta of 0.306 points to low price volatility, which suits income-focused investors who prioritize a steadier ride over capital gains.
Telefónica, S.A. pays out 250.0% of earnings as dividends, a payout ratio classified as high (above 75%). That figure is well above 100%, meaning the dividend is not currently covered by reported earnings. Telefónica, S.A. dividend safety is the central question for any income investor here, and the payout ratio alone flags meaningful pressure. The company's broad service mix, spanning fixed and wireless telephony, Pay TV, and recurring cloud and cybersecurity contracts, provides revenue across multiple streams, but a 250% payout ratio leaves little room for earnings weakness without forcing a dividend adjustment.
Telefónica, S.A. dividend history shows a CAGR of 2.7% per year from 2003 to 2025. Per-share, that translates from $0.2908 at the start of the window to $0.5221 by 2025 (2026 is a partial year and excluded from the CAGR calculation). The largest annual increase in the window was 143.5% in 2006, but the history also contains at least one year-over-year decline exceeding 5%, so growth has not been linear. Three consecutive years of dividend increases is the current streak. Growth is slow by most standards, and the long-term CAGR of 2.7% offers limited inflation protection for income investors.
| Period | CAGR | From | To |
|---|---|---|---|
| 3-Year | +18.1% | $0.32 (2022) | $0.52 (2025) |
| 5-Year | +2.9% | $0.45 (2020) | $0.52 (2025) |
| 10-Year | +1.6% | $0.45 (2015) | $0.52 (2025) |
TEFOF is a high-yield telecom stock that fits income-focused investors who can accept an elevated payout ratio in exchange for a 4.78% yield, classified as high (above 4%). The current yield sits well below the 5-year average of 7.66%, which means today's income is lower relative to what the stock has historically offered. Three consecutive years of dividend increases show recent momentum, but the 250% payout ratio is the defining constraint: earnings would need to grow substantially to bring coverage to a comfortable level. What an investor gets here is meaningful current income from a multi-market telecom operator. What they accept is a payout structure that leaves the dividend exposed to any earnings shortfall.
| Payment Date | Amount per Share |
|---|---|
| 2026-06-17 | $0.1739 |
| 2026-06-16 | $0.1405 |
| 2025-12-17 | $0.1763 |
| 2025-06-18 | $0.1728 |
| 2025-06-17 | $0.1730 |
| 2024-12-18 | $0.1580 |
| 2024-12-17 | $0.1580 |
| 2024-06-18 | $0.1611 |
| 2023-12-12 | $0.1618 |
| 2023-06-13 | $0.1610 |
| Year | Total Dividends |
|---|---|
| 2026 | $0.3144 |
| 2025 | $0.5221 |
| 2024 | $0.4771 |
| 2023 | $0.3228 |
| 2022 | $0.3170 |
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