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Vodafone Share Price Gains After Confirming Interim Dividend

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Nigel F

Shares of Vodafone Group PLC (LON: VOD) are trading about 4% higher this morning in London after the telecom giant maintained interim dividend.

Vodafone, the world’s second largest telecom operator, posted adjusted earnings of €7.0 billion, which is 1.9% lower compared to a year ago. Revenue fell 2.3% to €21.4 billion on lower income from roaming fees and handset sales.

“COVID-19 and the reduction in roaming revenues, through the significant reduction in international travel, is currently obscuring our underlying commercial progress, with Q2 service revenue growing by 1.5% excluding roaming,” Nick Read, chief executive, said in the statement.

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Vodafone also reduced net debt, which now stands at €44 billion from €48.1 billion a year ago. As a result, the company confirmed the interim dividend payout at 4.50c.

Moreover, the telecom giant also confirmed the full-year guidance of €14.4 – 14.6 billion in underlying profits and free cash flow of at least €5 billion.

Vodafone share price gains on interim dividend payout November 2020

Vodafone share price moved around 4% higher to print 125.00p, the highest it traded since July.

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Nigel F
Nigel F
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Nigels tiefes Verständnis der Finanzmärkte basiert auf über 10 Jahren Erfahrung. Nigel wurde bisher zweimal von der FCA (Financial Conduct Authority) autorisiert und hat in der letzten Zeit eine Finanz-Brokerage Firma besessen und verkauft. Er liefert hochaktuelle Analysen und Einsichten in die Finanzmärkte und in die allgemeine Wirtschafts- und Währungspolitik des Vereinigten Königreichs, der USA, Europas und Asiens.