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Vodafone’s dividend is safe for now

Vodafone’s dividend is safe for now
The telecoms giant has reassured shareholders by confirming that it will maintain its pay-out at 15.07ȼ a share for the 2019 financial year. Good news for all those income investors who have hung on as the share price has collapsed.

UPDATE

Vodafone’s (VOD) has told the Financial Times that it expects a pick up in performance in the UK business after many years of declines. Recently, its local mobile phone division has struggled amid changes to data roaming laws and after receiving backlash for poor service. Chief executive Nick Read said he expected underlying Ebitda growth to accelerate in the UK as more cost savings came through thanks to “radical simplification”, while customer additions are improving – in the first half of the 2019 financial year, the group added 181,000 new UK clients, compared to 59,000 in FY2018.

But optimistic investors should be aware that Vodafone is among a number of telecoms companies facing backlash from Ofcom and the Citizens Advice Bureau (CAB) for continuing to charge customers for contracts which have ended. In late September, the CAB issued a ‘super complaint’ to the Competition and Markets Authority (CMA) which is currently considering how it…

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