Vodafone hit by record revenue fall in Q4

Vodafone has reported a record fall in organic service revenue in the first three months of 2013 but has hiked its full-year dividend by 7%.

Reporting full-year results for the year to 31 March 2013, the telecoms major said group service revenue fell 4.2% in Q4, in line with forecasts, with overall revenue also falling 4.2% on the year to £44.4bn. The group took a further £1.8bn impairment charge relating to its Italian and Spanish businesses, bringing total impairments for the year to £7.7bn. Total dividends per share of 10.19p rose 7% year-on-year, but the group is to reinvest the £2.1bn in dividends due from its stake in Verizon Wireless rather than make a further pay out to shareholders. Vodafone paid a £2.2bn speci...