TEF just reaffirmed that it expects to pay €1.75 in dividends this year. This would be €1.75*1.44/2 or $1.26 in May. That would be a 9.62% yield on the current strike price, less of course, the 19% withholding tax for American investors. They could pay less in May and then make it up on the second dividend payment usually in early November. I'm expecting less, happy to take more.