<SEC-DOCUMENT>0001193125-17-101517.txt : 20170329
<SEC-HEADER>0001193125-17-101517.hdr.sgml : 20170329
<ACCEPTANCE-DATETIME>20170329150812
ACCESSION NUMBER:		0001193125-17-101517
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170329
FILED AS OF DATE:		20170329
DATE AS OF CHANGE:		20170329

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TELEFONICA S A
		CENTRAL INDEX KEY:			0000814052
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			U3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09531
		FILM NUMBER:		17721960

	BUSINESS ADDRESS:	
		STREET 1:		GRAN VIA 28
		CITY:			28013 MADRID
		STATE:			U3
		ZIP:			00000
		BUSINESS PHONE:		00 34 91 584 0640

	MAIL ADDRESS:	
		STREET 1:		GRAN VIA 28
		CITY:			28013 MADRID
		STATE:			U3
		ZIP:			00000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NATIONAL TELEPHONE COMPANY OF SPAIN
		DATE OF NAME CHANGE:	19880708
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>d368349d6k.htm
<DESCRIPTION>6-K
<TEXT>
<HTML><HEAD>
<TITLE>6-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">6-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Report of
Foreign Private Issuer </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Rule <FONT STYLE="white-space:nowrap">13a-16</FONT> or
<FONT STYLE="white-space:nowrap">15d-16</FONT> </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>For the month of March, 2017 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Commission File Number: <FONT STYLE="white-space:nowrap">001-09531</FONT> </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>Telef&oacute;nica, S.A. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Translation of registrant&#146;s name into English) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Distrito
Telef&oacute;nica, Ronda de la Comunicaci&oacute;n s/n, </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>28050 Madrid, Spain </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><FONT STYLE="white-space:nowrap">3491-482</FONT> 87 00 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive offices) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether
the registrant files or will file annual reports under cover of Form <FONT STYLE="white-space:nowrap">20-F</FONT> or Form <FONT STYLE="white-space:nowrap">40-F:</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Form&nbsp;20-F&nbsp;&nbsp;&#9746;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form&nbsp;40-F&nbsp;&nbsp;&#9744;</FONT></FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark if the registrant is submitting the Form <FONT
STYLE="white-space:nowrap">6-K</FONT> in paper as permitted by Regulation <FONT STYLE="white-space:nowrap">S-T</FONT> Rule 101(b)(1): </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Yes&nbsp;&nbsp;&#9744;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&#9746; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark if the registrant is submitting the Form <FONT STYLE="white-space:nowrap">6-K</FONT> in paper as permitted by Regulation <FONT
STYLE="white-space:nowrap">S-T</FONT> Rule 101(b)(7): </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Yes&nbsp;&nbsp;&#9744;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&#9746; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule <FONT STYLE="white-space:nowrap">12g3-2(b)</FONT> under the Securities Exchange Act of 1934: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Yes&nbsp;&nbsp;&#9744;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&#9746; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If &#147;Yes&#148; is marked, indicate below the file number assigned to the registrant in connection with Rule
<FONT STYLE="white-space:nowrap">12g3-2(b):&nbsp;&nbsp;</FONT><U>N/A</U> </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Telef&oacute;nica, S.A. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><A NAME="toc"></A>TABLE OF CONTENTS </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="87%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:15.95pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Item</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:35.95pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Sequential<BR>Page<BR>Number</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman" ALIGN="center">1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="#tx368349_1">Telef&oacute;nica &#150; Dividend payment periods </A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center"><A NAME="tx368349_1"></A>


<IMG SRC="g368349g0330003946600.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RAMIRO S&Aacute;NCHEZ DE LER&Iacute;N <FONT STYLE="white-space:nowrap">GARC&Iacute;A-OVIES</FONT>
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>General Secretary and </I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Secretary to the Board of Directors </I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TELEF&Oacute;NICA, S.A. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">TELEF&Oacute;NICA, S.A. as provided in article 228 of the Spanish Stock Market Act <I>(Ley del Mercado de Valores)</I>, hereby reports the following </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNIFICANT EVENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Further to the
Significant Event published on October&nbsp;27, 2016, where the dividend policy for 2016 and 2017 was established stating that the annual dividend would continue to be paid in two tranches (in the second quarter and in the fourth quarter), the Board
of Directors of Telef&oacute;nica, S.A. has decided to define the corresponding payment periods. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">From now on, the dividend payment in the second quarter
will take place in June, and the dividend payment in the fourth quarter will take place in December, in both cases on or before the third Friday of the corresponding month. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company announced that in the 2017 calendar year the dividend payment will amount to 0.40 euros per share in cash, payable in two tranches. Consequently,
and according to the payment periods established today: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the next cash dividend payment of 0.20 euros per share will be made on or before Friday June&nbsp;16, 2017 (completing the commitment of paying 0.55 euros per share for year 2016), and </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the following cash dividend payment of 0.20 euros per share will be made on or before Friday December&nbsp;15, 2017. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The adoption of the corresponding corporate resolutions will be proposed in due course, announcing the specific payment dates. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Madrid, March&nbsp;29, 2017 </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SIGNATURES </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="41%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="40%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD COLSPAN="3" VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="5"><B>Telef&oacute;nica, S.A.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">March 29<SUP STYLE="font-size:85%; vertical-align:top">th</SUP>, 2017</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Ramiro S&aacute;nchez de Ler&iacute;n
<FONT STYLE="white-space:nowrap">Garc&iacute;a-Ovies</FONT></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Ramiro S&aacute;nchez de Ler&iacute;n <FONT STYLE="white-space:nowrap">Garc&iacute;a-Ovies</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">General Secretary and Secretary to the Board of Directors</TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g368349g0330003946600.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g368349g0330003946600.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  O ( # 2(  A$! Q$!_\0
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M[%"[F/4G'4\=:EKSV#XNZ3,0!I>I<^@B_P#BZU;+X@6-\X2+3-2!)Q\PB_\
/CE8SR_%1UG$I5Z;V9__9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
