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It's payout time as Vodafone CEO signals smart dividend, share buyback moves.
Knight Ridder/Tribune Business News, September, 2004
By James Quinn, Daily Mail, London Knight Ridder/Tribune Business News
Sep. 28--Vodafone chief executive Arun Sarin put his stamp on the mobile phone giant with a plan to return more cash to shareholders after freeing up UKpound 2.5 billion.
The money -- equivalent to three months underlying profit for the UK's largest company -- will be returned through share buy-backs and an increased dividend.
Sarin said: "It is reasonable to think we will be paying out more and more of our cashflow in the coming years."
Investors will have to wait until half-year results on November 16 to know by how much the dividend will rise.
Sarin is still determined to increase Vodafone's holding in France's SFR but is blocked by Vivendi...
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