Shares of U.K. telecom heavyweight Vodafone rose more than 2% Tuesday, as a bigger-than-expected increase in the company's dividend overcame disappointment in full-year operating profit growth and cautious guidance for fiscal 2008 results.
Vodafone reported a net loss of 4.8 billion pounds ($9.5 billion) for the year ended March, narrowing from 17.23 billion pounds in the same period a year ago, with the company citing strength in emerging markets.
Earnings before interest, taxation depreciation and amortization (EBITDA) for the period rose to 11.96 billion pounds, up 1.6% from the year ago. Adjusted earnings per share rose 11.4% from fiscal 2006 to 11.26 pence per share.
Annual revenue rose 6% to 31.1 billion pounds.