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VOD - Vodafone News Story

156.2p -0.9  -0.6%

Last Trade - 4:52pm

Sector
Telecoms
Size
Large Cap
Market Cap £42.05bn
Enterprise Value £66.45bn
Revenue £38.67bn
Position in Universe 34th / 1831

BUZZ-Vodafone: Recoups early losses, among top FTSE 100 gainers

Tue 14th May, 2019 9:38am
(Updates share move, adds comment from analyst)
    ** Shares in the world's second biggest mobile operator
Vodafone  VOD.L  reversed losses, rises nearly 3% as investors
overlook dividend cut
    ** Co lowers https://uk.reuters.com/article/us-vodafone-group-results/mobile-operator-vodafone-cuts-dividend-to-tackle-debt-burden-idUKKCN1SK0M8
 dividend to 9 eurocents/share from 15.07 eurocents to build 5G
networks, complete its Liberty Global deal
    ** "There are also grounds for optimism in terms of
Vodafone's ambitions," says Richard Hunter, Head of Markets at
interactive investor 
    ** Hunter says despite the cut, the yield remains "punchy"
    ** The gain erases some of the 5.2% drop on Monday, when
expectations of a dividend cut dragged the stock to its worst
day 5 years
    ** As of Monday's close, stock had fallen 13.8% YTD, lagging
a 6.5% gain in FTSE 100 index  .FTSE  in which it is a part of

 (Reporting by Muvija M in Bengaluru)
 ((Reuters Messaging: muvija.m.thomsonreuters.com@reuters.net))
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