Wrong number: Divi cut as Vodafone pumps cash into 5G network rollout

Vodafone has slashed its shareholder dividend payout for the first time to invest in 5G and cut debts as it revealed a mammoth €7.6 billion (£6.6bn) annual loss. The mobile phone giant announced a 40 per cent cut to its full-year dividend, which is one of the biggest in Britain, to nine cents a share in what marked a stinging blow to investors. It came as Vodafone swung deeply into the red over the year to 31 March. Boss Nick Read said the divi cut was needed to help the group pay down its debt mountain as it invests heavily in buying 5G.