Nick Read, the new Vodafone boss, is poised to defy pressure to cut the telecoms giant’s dividend to bring its mounting debt pile under control. He took over as chief executive from Vittorio Colao last month and already faces calls to curb the shareholder payout this week alongside his first set of half-year results. It is understood that Mr Read will maintain the existing policy of steadily increasing cash returns for shareholders. Analysts at Citi told clients there was a “consistent view that there is no near-term risk to the dividend”. Vodafone is one of the biggest payers in the FTSE 100 and has a long record of increasing dividends. Concern over its balance sheet is rising as it prepares… To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try Premium Access one Premium article per week Register for free Register for free to continue reading this article Register Or unlock all Premium articles, free for 30 days Start trial Already have an account? Login Want to learn more? View all subscriptions
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