Vodafone CFO says Verizon dividend to continue
Stake-holding in US operator yielded £2.4bn in dividend earlier this year
By CFOWorld.co.uk staff | CIO UK | Published 11:43, 28 November 12
Mobile telephony giant Vodafone’s CFO Andy Halford has said that the company is expected to continue paying a dividend from its investment in US operator Verizon Wireless.
In an interview with German newspaper Boersen-Zeitung, Halford said, "If the business continues to develop in the way it has in recent times then we should suppose that the shareholders will continue to receive significant sums in the future.”
The dividend had been suspended from 2005 through 2010 while Verizon Wireless focused on paying down debt. Vodafone has a 45 percent stake in the company which appears to have turned a corner stateside.
Earlier this month, the stake-holding yielded £2.4 billion in dividend. Vodafone said at the time that the dividend would be used in part to commence at £1.5 billion share buyback scheme.
Halford also said plans for the public listing of its Indian subsidiary were contingent upon much needed “clarity” in that jurisdiction’s regulatory and tax environment.
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