Good morning: New chief executive, new (lower) dividend. Posting his first full-year results as Vodafone chief executive, Nick Read has grasped the nettle and cut the FTSE 100 telecom group’s unsustainable dividend. Major shareholders, concerned about the company’s debt, may privately welcome the decision, which saves the group €1.8 billion a year. Small shareholders will, I suspect, be less understanding. Dividend per share has been rebased to 9 cents, down from 15 cents in…

Source: The Times May 14, 2019 08:03 UTC