Spanish telecom giant Telefonica (TEF -2.7%) slashes its planned dividend for 2012 to €1.3/share...

|About: Telefonica S.A. (TEF)|By:, SA News Editor

Spanish telecom giant Telefonica (TEF -2.7%) slashes its planned dividend for 2012 to €1.3/share from this year's €1.6/share, as "economic and operating environment and financial markets conditions have changed materially." This brings the company's dividend yield down to about 10%, based on today's price. (PR)