Vodafone

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%.

Vodafone shares have jumped to the top of the FTSE 100 leaderboard on talk that US peers Verizon and AT&T are working on a $245bn break-up bid for the firm.

Ecclesiastical's Robin Hepworth is backing the rally in Vodafone shares to continue even if the M&A rumours surrounding the stock begin to recede.

Shares in telecoms giant Vodafone soared in afternoon trading as rumours swirled of a possible merger with Verizon, or the end of its joint venture with the US firm.

Invesco Perpetual's Neil Woodford has sold his position in Voadafone, a former favourite in his two behemoth income funds.

Poor interim results from Vodafone have pushed the FTSE 100 down 0.9% to a two-month low in morning trading.

Verizon Wireless has ended months of speculation by announcing it will pay a total dividend of $8.5bn to its parent companies, Verizon Communications and Vodafone Group.

DIVIDENDS

ON UK INCOME

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