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Vodafone is to hike its dividend for the first time in eight years as the benefits of a massive restructuring come through quicker than expected.

Shares in the mobile phone giant rose nearly 5p or 5.5% to 93.8p in early trading as it confirmed that the dividend for the year ending in March will be increased by 2.5%. The interim dividend was left unchanged at 2.25 Euro cents.

Vodafone last hiked its payout to shareholders in 2018 but slashed it from 15.07cents to 9cents after making heavy losses in 2019. The full year dividend was cut again to 4.5 cents last year

Vod

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