Álvarez-Pallete acquires Telefónica securities for nearly 400,000 euros | Companies | EUROtoday

The president of Telefónica, José María Álvarez-Pallete, has acquired 100,000 shares of the corporate in the marketplace, at a value of three.93 euros per share, which represents a disbursement of 393,000 euros, as notified to the National Commission of the Stock Market (CNMV). The buy of securities occurred final Friday, the twentieth, someday after Telefónica paid the second a part of its dividend of 0.15 euros per share, after the one distributed final June. The president of the group, who owns virtually 0.1% of the capital, was entitled to 816,000 gross euros, of which roughly half would have been reinvested in new shares of the corporate.

It shouldn’t be the primary time that the supervisor has opted to assist the corporate with the acquisition of securities, particularly at instances when the worth shouldn’t be at its greatest. In reality, the operator’s shares closed yesterday’s session, Monday, at 3.91 euros, very removed from the highs set final October of 4.55 euros, though additionally properly above the lows of three.52. euros that they had been value final February or the three.63 euros with which they started the 12 months.

The final buy coincided with the dividend distribution final June. The president of Telefónica then acquired a complete of 74,060 shares of the corporate itself, with a median unit value of three.67 euros per share, and an funding of 271,000 euros.

Over the previous few years, Pallete has made totally different investments within the buy of Telefónica shares. In August 2020, after the sharp drop attributable to the impression of the pandemic, it acquired 100,000 titles, at a unit value of three.52 euros, with a complete funding of 352,000 euros. In May of that 12 months, he had purchased 100,000 shares, paying a unit value of 4.19 euros. In this manner, the whole funding, made a number of days after the announcement of the merger between O2 and Virgin Media within the United Kingdom, amounted to 419,000 euros. In August 2019, Pallete acquired 100,000 Telefónica shares, at a value of 5.98 euros per share, with an funding of near 600,000 euros.

One of the principle operations carried out by Pallete passed off in December 2016, a number of months after turning into president, when it bought 615,000 shares, at a unit value of 8.62 euros per share. The funding at the moment exceeded 5.3 million euros. In December 2017, the manager acquired 121,000 shares of the telecom firm, with a unit value of 8.23 ​​euros per share. The supervisor’s funding was round a million euros.

However, the vast majority of virtually 0.1% of the operator’s capital doesn’t come from its personal purchases however is the results of remuneration in shares from the totally different incentive plans for managers. Thus, final April, Álvarez-Pallete acquired a complete of 527,670 shares of the teleco, after the liquidation of the First Cycle of the Performance Share Plan (PSP 2021-2024) of incentives for the highest administration, accepted by the final assembly of shareholders of the 12 months 2021. Altogether, it owns round 5.4 million shares, which is at present valued at market costs at virtually 23 million euros.