Vodacom slashes dividend on investment push in Egypt, fibre

  • 📰 Moneyweb
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 77%

Business News News

Business Business Latest News,Business Business Headlines

Vodacom slashed its full-year dividend for fiscal 2023, as Africa’s biggest phone operator by value plans investments in new ventures in Egypt, Ethiopia and its fibre business. Moneyweb VodacomDividend

Vodacom slashed its full-year dividend for fiscal 2023, as Africa’s biggest phone operator by value plans investments in new ventures in Egypt, Ethiopia and its fibre business. The dividend will be R6.70, down from R8.50 the previous year, Vodacom said in a statement Monday. That compares to an average estimate of R6.76 per share according to analysts surveyed by Bloomberg.

The company upgraded its medium-term targets for group service revenue growth to mid- to high-single-digit from mid-single digit. The power cuts have been “disastrous” for South Africa’s economy and industry, and pushed Vodacom to boost investment in power resilience, Joosub said in the statement.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in BUSİNESS

Business Business Latest News, Business Business Headlines