Investors in Vodafone Group who may be waiting for Verizon Communication to approve a dividend from their US mobile-phone venture will have to hold out longer, according to two people with knowledge of the matter, Bloomberg is reporting.
Verizon Wireless's board doesn't plan to discuss a potential dividend at a Sept. 19 meeting, said the people, asking not to be identified because the agenda is confidential.
Nevertheless, a decision could still be taken at a December gathering or at an unscheduled board meeting anytime, one of the people said.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Will Draper, an analyst at Espirito Santo Investment Bank, wrote in a note last month that he anticipated Verizon Communications to increase the dividend from the venture this year by at least 5%.
Last week, Verizon Communications itself raised its quarterly dividend by 3%, the sixth consecutive year of increases.
Vodafone paid a special dividend of £2bn ($3.2 billion) last year after the joint-venture itself paid out a $4.5bn dividend.
Previously, Verizon had withheld the dividend from the partnership to focus on paying down debt.
AB
-
Four income funds to add to your ISAAdding one of these four income funds to your stocks and shares ISA ahead of tax year end could pay dividends
-
Are regular savings accounts worth it?A 7% interest rate is eye-catching, but how much can you save in a regular saver account and how does the interest rate work exactly?
