The European telecommunications sector came under pressure in 2016, however. By the end of the year, the industry barometer Dow Jones STOXX® Europe 600 Telecommunications had posted losses of around 12 percent on a total return basis. Share price performance was dampened in particular by fears that the regulatory environment in Europe would deteriorate.
In this environment, the T-Share ended the year at a closing price of EUR 16.36, or minus just 2.0 percent. The lowest price recorded during the year of EUR 13.98 on June 27, 2016 was connected to the Brexit vote, while the highest price of EUR 16.43 was recorded on May 25, 2016, the day of our shareholders’ meeting.
On a total return basis – i. e., similar to the DAX – our share nevertheless finished the year up a modest 1.4 percent. In 2016, we again offered our shareholders the option of converting the dividend into Deutsche Telekom AG shares instead of receiving it as a cash payment. The option was exercised for a total of 40.9 percent or around 1.9 billion of the shares carrying dividend rights. This led to around 70 million new shares being issued.