Vodafone (VOD) shares rose 5 per cent in early trading after the telecom giant said it would raise its dividend for the first time since 2018 and expects to deliver annual results at the upper end of its guidance range.
The company announced a new progressive dividend policy and anticipates a 2.5 per cent increase in payouts this year. Vodafone also confirmed it had started a €500mn (£439mn) share buyback as part of its €4bn programme, which is 75 per cent complete.
Investors can now expect annual results to come in near the top of the company’s guidance for adjusted profit of €11.3bn-€11.6bn and adjusted free cash flow of €2.4bn-€2.6bn.
For the six months to 30 September, revenue rose 7 per cent to €19.6bn as trading was boosted by a return to service revenue growth in Germany. Operating profit was down 9 per cent to €2.2bn on higher depreciation and amortisation charges following the consolidation of Three UK.




