Vodafone slashes dividend to maintain payout in face of rising spectrum costs

Vodafone slashed its dividend on Tuesday, reversing a pledge to maintain the payout in the face of rising spectrum costs, tough competition in Spain and Italy and a balance sheet soon to be hit by the acquisition of Liberty Global assets.

The world's second largest mobile operator cut the full-year dividend to 9 euro cents a share from 15.07 euro cents in its fiscal 2018 year.