The company cut the full-year dividend to 9 eurocents a share from 15.07 eurocents in its financial 2018 year and below the 14.55 eurocents that had been expected. "The board has made the decision to rebase the dividend, helping us to reduce debt." Vodafone reported group revenue of 43.7 billion euros for the year to end-March, down 6.2%, with an operating loss of 951 million euros. For the 2020 financial year, Vodafone said it expected adjusted core earnings of 13.8 billion — 14.2 billion euros, implying low single-digit organic growth, and free cash flow pre-spectrum of at least 5.4 billion euros. He said on Tuesday the new policy ensures the dividend will be secure going forward.

Source: Mint May 14, 2019 07:07 UTC