Divi disappointment at BT

Slightly better than anticipated earnings could not shield BT Group from the bears on Thursday as hopes were dashed of a dividend bonanza in the wake of the telecoms giant sorting out its pension overhang.

Slightly better than anticipated earnings could not shield BT Group from the bears on Thursday as hopes were dashed of a dividend bonanza in the wake of the telecoms giant sorting out its pension overhang.

Underlying profit before tax in the year to March 31st rose 16.2% to £2.42bn from £2.08bn the year before, versus expectations of £2,412m. Earnings before interest, tax, depreciation and amortisation (EBITDA) edged up 3% to £6.06bn from £5.89bn.

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