Vodafone boss cuts dividend to help build 5G networks
Nick Read says the decision was not taken lightly but will help it invest in new technologies and buy Liberty Global assets
London — The new boss of Vodafone has cut the mobile operator’s dividend for the first time, securing the firepower it needs to build 5G networks and complete its acquisition of Liberty Global assets. Nick Read, the former CFO who has been in the top job since October, said the decision to cut one of the biggest payouts in Britain had not been taken lightly, but was needed to bring down debt and invest in new technologies. The company cut the full-year dividend by 40% to 0.09 euro cents a share from 15.07 euro cents in its financial 2018 year and below the 14.55 euro cents that analysts had expected.
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