You are welcome.
I have been following Telefonica for quite a few years, initially very closely but lately much more loosely.
Unfortunately the EX date was last month, but it does give good a dividend. I think they mainly give it out as a scrip dividend, with the option of cash, which can lead to a moderate amount of dilution (large in the long term). I did not get the option to choose so I don’t know whether T212 default to cash or whether they will add a few shares onto my portfolio.
I invested about 30% of my intended amount before the EX dividend date, but I am kind of waiting for it to drop a bit more before investing the rest. I initially thought it might go down to 2.65 EUR, but I now think that it is unlikely for it to go lower than 3.50 EUR. Either way, I think that in the medium (2-3 years) and in the long term it will increase again, hopefully to around 10 euros.
It is also cheap in terms of P/E ratio compared to other European telecommunications companies. It has been heavily penalised due to its high debt, which it historically struggled to reduce, however in the last year or so it has announced divestments in Central-America, the sale of towers in Germany to a partially owned subsidiary and the merger of its UK unit with Virgin (Liberty Media) all of which should lead to a significant debt reduction over the next year or so.
It also issued debt around May-ish at a lower interest rate, to ensure that it had strong liquidity in case the current pandemic damaged its cashflow, which also lowers its overall interest rate.
There is a thread on the merger between 02 UK (Telefonica) and Virgin Media (Liberty Media) were we discussed it a bit.