Vodafone Group (VOD) is increasing its "interim" dividend (the first semi-annual dividend for 2013) by 7.2%, from 3.05 to 3.27 pence per ordinary share. The exchange rate for the American Depositary Shares (1 ADS = 10 ordinary shares) will likely be determined sometime in January, but at the current exchange rate, this works out to an increase in U.S. dollars of about 9.8%. Given that I own 80 shares of VOD, my interim dividend will be about $40.73, to be paid sometime in February.
In related news, Vodafone is receiving a special dividend payment of about £2.4B from Verizon Wireless, of which £1.5B will be used to buy back shares. The company also reported an H1 net loss due to write-downs in troubled Spain and Italy. Southern Europe will likely continue to weigh on the company's operating results in the short term.
Not to mention VOD shares are being hammered today, down over 3.3%!ReplyDelete
sigh, if only I had some capital on hand. This is great news for VOD shareholders.
FI Fighter: I also noticed today's price decline. Unfortunately, I don't have sufficient cash to make another purchase this month, so I will just have to watch the action.Delete
I hope that the price stays beaten down until I can get some money freed up. I've been waiting for VOD to drop below $26 for months, and now that it does I can't pick up any shares.ReplyDelete
Although it's good news for current and prospective shareholders.
Passive Income Pursuit: I know how you feel about waiting for a price drop, only to be unable to take advantage of it due to a lack of cash. I've been in that situation many times. However, perhaps VOD will remain on sale for a while.Delete
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