British mobile phone giant Vodafone Group Plc ( VOD ) rewarded its shareholders with the largest ever dividend amid the ongoing weakness and uncertainties in Europe. The company has also become the top dividend payer in the FTSE 100.
Vodafone has been distributing exceptional dividends to its shareholders. In February, the company paid a special and interim dividend of £0.0705 per share, including the £0.04 per share dividend of Verizon Wireless, its joint venture with Verizon Communications Inc. ( VZ ).
In addition, Vodafone is expected to pay a final dividend of £0.0647 per share on August 1, to shareholders of record as of June 8. This dividend represents a 7.0% increment year over year, marking the company's target of minimum 7% dividend growth per annum by March 2013.
Cumulatively, total dividend per share in fiscal 2012 increased more than 50% compared with last year despite the loss of dividends from China Mobile Limited ( CHL ) and SFR. Vodafone continues to expect total dividend per share to be at least £0.1018 for fiscal 2013.
As part of the strategy to exit minority holdings,Vodafone realized about £15 billion from the sale of stakes in China Mobile, Softbank Corporation, SFR and Polkomtel over the last two years. The company decided to return part of the proceeds (£6.8 billion) to shareholders in the form of share buybacks. The company expects its share buyback plan to be completed in the near term.
Over the last four years, the company returned almost £26 billion to shareholders, which represents 30% of the market capitalization at the end of fiscal 2012.
The divestiture of minority holdings has also strengthened the company's balance sheet position. Vodafone's net debt reduced to £24.42 billion at the end of fiscal 2012 from £29.86 billion last year. The company generated free cash flow of £6.1 billion, down 13.4% year over year but within the guidance range of £6.0-£6.5 billion.
Free cash flow is expected to remain stable in the range of £5.3 billion to £5.3 billion for fiscal 2013, excluding any dividend received from Verizon Wireless.
We are currently maintaining our long-term Neutral recommendation on Vodafone. For the short term (1-3 months), the stock retains a Zacks #3 (Hold) Rank.
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Vodafone cuts 3G tariffs by up to 80 percent - thinkdigit.com
Vodafone has intensified the price war in the 3G space by slashing its tariffs by up to 80 percent. After the price revision, the second in less than a month, Vodafone's entry-level 3G data plan now start at Rs. 25 for 25MB, and goes up to Rs. 1,599 for 12GB data usages. Usage beyond the stipulated data usage on each plan will be charged at 2 paise/10KB.
Under the Pay-As-You-Go (PAYG) plan, available for prepaid customers, the rate has been slashed to 2 paise per 10 KB from earlier 10paise per 10KB. Vodafone claims that PAYG is now the cheapest 3G tariff plan in the market right now.
Vodafone is also allowing its 3G subscribers to use data from their bundled package while on net-roaming across any location in the country without any extra charge. Apart from the Rs. 25 and Rs. 1,599 data plans, there are also Rs. 45 and Rs. 100 data plans that offer 150MB (for seven days) and 300MB (for 30 days) of 3G data respectively. Also, users have a Rs. 200 plan, which offers 500MB of data for 30 days, while Rs 250 will provide 1GB of data for 30 days.
The operator is also offering 1.5GB of 3G data for Rs. 375, 2GB of data for Rs. 450, 3GB for Rs. 650, 4 GB for Rs. 750, 5 GB for Rs. 850, 8 GB for Rs. 1,250, 10 GB for Rs. 1,500, and 12 GB for Rs. 1,599 respectively. All these plans come with 30 days of validity.
Over the last month, all major telecom operators such Airtel, Idea and Reliance have cut their 3G prices to increase revenues, and popularise 3G services in the country. The price war was triggered after Airtel launched its 4G services in the country and later slashed its 3G tariffs by up to 70 percent.
Experts, however, suggest telcos should raise rates instead of lowering 3G tariffs, as most of them are reeling under hefty debts after buying 3G licence. Moreover, after cancellation of 2G licences allocated in a scam-tainted 2008 auction, telcos need to up their revenues for fresh bids.
It's notable that the expansion of 3G has been slower than expected in the country, especially because of the high tariff rates. According to an estimate, the number of 3G users in the country is around 20 million, which is less than 2 percent of the 900 million-plus GSM user base in the country. However, with the arrival of low-cost 3G smartphones, 3G coverage might increase in the coming years.
For more, read More 3G for less: Which plans make sense for you?
Also read,
- Aircel cuts 3G tariffs, offers 1GB of data at Rs. 198
- Vodafone revises 3G tariffs; offers 1GB data at Rs. 251
- RCom cuts 3G tariffs; data plans now start Rs. 250/1GB
Google Nexus 7 tablet won't have 3G or camera, rumours say - Crave
More details have trickled out about the hotly tipped Google tablet, the Nexus 7. The 7-inch Android tablet will be the first to show off Jelly Bean, and now sources say it won't have a main camera or 3G. Can the Google Nexus 7 face up to the iPad or the new Microsoft Surface and Microsoft Surface Pro?
In order to keep the cost down to the rumoured $200 (£125), it seems Google and tablet manufacturer Asus plan to only offer Wi-Fi for connecting to the web, with no 3G option.
Industry watcher DigiTimes reports that component suppliers for the Nexus 7 also say there's no main camera -- just a lower-resolution front-facing camera for video calls.
Perhaps it's this camera that captured two photos posted to Google's online photo-sharing service Picasa, which claim to have been captured by a device called Nexus 7. The 1,280x960-pixel snaps are of the ceiling in 'Google Building 44', according to the attached geotagging metadata. One has since been deleted.
It's a tough market the Nexus 7 enters: making Android tablets is a hard row to hoe. None of them have come close to toppling the iPad as the most popular slate. Things are so tough, LG is giving up on tablets entirely to focus on phones.
And things got even tougher today with the announcement of the Microsoft Surface and Microsoft Surface Pro, flagship Windows 8 tablets that introduce the world to the next generation of the software that runs most of the world's homes and offices -- and by the end of this year will power tablets too.
The Nexus 7 will not only have to contend with the apparently invincible marketing of the iPad, but also with the widespread brand recognition of Windows. In fact, this is turning into a three-way head-to-head battle of the brands between Apple, Microsoft and Google, with the latter two putting their own names on the hardware for the first time. Who will win?
It's a safe bet that the Nexus 7 will take a bow at Google I/O, the annual Android developer event on 27 June in San Francisco. Keep it CNET for all the news and speculation in the run-up to the Nexus 7's public debut, as well as videos, previews and first impressions when it does become official.
Are you looking forward to the Google Nexus 7? Has the Microsoft Surface raised the bar for Android tablets? Tell me your thoughts in the comments or on our Facebook page.
Vodafone Group plc : Verizon Wireless 4G LTE Network Available in More Than 300 Markets Across the United States - 4-traders (press release)
BASKING RIDGE, N.J., June 20, 2012 /PRNewswire/ -- Verizon Wireless, owner of the nation's largest 4G Long Term Evolution (LTE) network, today announced that its 4G LTE network will be available in 46 new markets and expand in 22 additional markets across the United States on June 21. Just in time for the summer travel season, the company will bring its 4G LTE network to a total of 304 markets, enabling 4G LTE speeds in vacation destinations throughout the country.
With the new and expanded markets, the Verizon Wireless 4G LTE network continues to expand its reach with 4G LTE speeds available to more than two-thirds of the U.S. population, and more 4G LTE coverage than all other networks combined.
"Time and time again, third-party surveys affirm that the Verizon Wireless 4G LTE network keeps its promise to provide customers with consistently reliable responsiveness, download and upload speeds, and greater availability in more places throughout the country than any competing network," said Nicola Palmer, chief technical officer of Verizon Wireless. "Our aggressive 4G LTE network build-out is on track, providing our customers with the largest 4G LTE network in the United States - and the world - today. We are committed to cover more than 400 markets by the end of 2012. We will continue to expand and strengthen our 4G LTE network and plan to offer full nationwide coverage everywhere we have 3G coverage today, by the end of 2013."
New and Expanded Markets
On Thursday, June 21, the company will introduce its 4G LTE network in 46 new markets: Florence, Ala.; Harrison, Ark.; Yuba City/Marysville, Calif.; Panama City, Fla.; Carrolton, Gainesville and Newnan, Ga.; Blackfoot, Idaho; Decatur/Effingham, Kankakee/Bradley-Bourbonnais and La Salle/Peru/Ottawa, Ill.; Columbus and Michigan City/La Porte, Ind.; Greater Portland, Maine; Greenville/Greenwood, Jackson and Tunica, Miss.; Houghton and Traverse City, Mich.; Jefferson City, Lake of the Ozarks and West Plains, Mo.; Binghamton, Elmira/Corning/Hornell and Oneonta, N.Y.; Burlington, Hickory/Lenoir, Jacksonville and New Bern, N.C.; Bedford and Sharon/Farrell/Hermitage, Pa.; Anderson, Florence and Greenwood, S.C.; Lufkin/Nacogdoches, Midland, San Angelo and Waco, Texas; Danville, Va.; Ashland, Ky./Huntington, W.Va. and Logan, W.Va.; Fond du Lac, Janesville/Beloit and Sheboygan, Wis.; and Gillette, Wyo. The Lihue, Hawaii market launched June 11.
The company will also expand its 4G LTE network in 22 markets where Verizon Wireless 4G LTE was already available: Denver and Fort Collins/Loveland, Colo.; Philadelphia., Pa./Wilmington, Del.; Daytona Beach, Gainesville and West Palm Beach, Fla.; Hilo, Hawaii; Boise/Nampa, Idaho; Chicagoland, Ill.; Lafayette, Ind.; Hammond, La.; Springfield, Mo.; Glens Falls and New York, N.Y.; Charlotte/Gastonia and Greenville/Washington, N.C.; Indiana, Pa. and Hagerstown, Md./Chambersburg, Pa.; Sioux Falls, S.D.; Norfolk/Virginia Beach, Va.; Seattle, Wash.; Appleton/Oshkosh, Wis.
4G LTE Devices, Plans and Speed
Verizon Wireless offers 24 4G LTE devices, the largest selection of 4G LTE devices offered by any carrier. Devices range from tablets and mobile hotspots to the latest smartphones and more, including the Samsung Galaxy S() III, currently available online for pre-order, and the soon-to-be available DROID INCREDIBLE 4G LTE by HTC. Details on available devices can be found at www.verizonwireless.com/4GLTE and information on plans and pricing is available at www.verizonwireless.com/plans.
Verizon Wireless also offers a variety of smart accessories, including the FitBit Ultra Wireless Activity Tracker and the Withings WiFi Scale, for customers to use with their 4G LTE devices. A full list of smart accessories can be found at www.verizonwireless.com/smartaccessories.
In real-world, fully loaded network environments, 4G LTE users should experience average data rates of 5 to 12 megabits per second (Mbps) on the downlink and 2 to 5 Mbps on the uplink. When customers travel outside of 4G LTE coverage areas, devices automatically connect to Verizon Wireless' 3G network, where available, enabling customers to stay connected from coast to coast.
Verizon Wireless' 3G network is the most reliable high-speed data network in the country and allows customers in 3G coverage areas who purchase 4G LTE devices today to take advantage of 4G LTE speeds when the faster network becomes available in their area or when they travel to areas already covered by Verizon Wireless' 4G LTE network.
On June 21, the Verizon Wireless 4G LTE network will be available in 304 markets across the United States. Visit www.verizonwireless.com/lte for a full list of 4G LTE markets and additional information on the Verizon Wireless 4G LTE network. For street-level detail of coverage and more, please visit www.verizonwireless.com/4GLTE.
About Verizon Wireless
Verizon Wireless operates the nation's largest 4G LTE network and largest, most reliable 3G network. The company serves 93.0 million retail customers, including 88.0 million retail postpaid customers. Headquartered in Basking Ridge, N.J., with 80,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications (NYSE, NASDAQ: VZ) and Vodafone (LSE, NASDAQ: VOD). For more information, visit www.verizonwireless.com. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at www.verizonwireless.com/multimedia.
SOURCE Verizon Wireless
CAT to redo 3G contracts - Bangkok Post
Telecom regulators have ordered state-owned CAT Telecom to amend its third-generation (3G) network contracts with True Corporation within 30 days.
The National Broadcasting and Telecommunications Commission (NBTC) yesterday said the existing contracts between CAT Telecom and True violate Section 46 of the Frequency Allocation Act of 2010, which requires licence holders and spectrum owners including CAT, to manage the spectrum rights on their own.
If CAT is unable to comply and amend its contracts, it could ultimately face the revocation of its 3G licence from the NBTC, which in turn would have massive implications for True's mobile unit, True Move and its customers.
But CAT chief executive Kittisak Sriprasert said his company has been in talks with True over the past three weeks on a deal that would potentially eliminate the issues raised by the NBTC regarding the contracts.
He said CAT is considering a buyback of BFKT (Thailand) from True, which if successful would completely eliminate any need to change the current 3G contracts. A resolution is expected next month.
The NBTC is reviewing the role of BFKT (Thailand), a unit of True subsidiary Real Future. Regulators question whether BFKT (Thailand), which under the CAT-True agreement is the party responsible for procuring telecom towers and signal systems for the 3G network, is acting as a part of CAT's operations and whether all related rules are being properly followed.
Settapong Malisuwan, chairman of the NBTC telecom committee, said the NBTC will take 30 days to verify BFKT's role.
An NBTC panel earlier ruled that BFKT could be in violation of the Telecom Business Act of 2001 by offering services without a proper licence.
True Move has been busy promoting its high-speed TrueMove H service, which uses a 3G network under licence from CAT. At the end of March, True reported 1.12 million subscribers for its TrueMove H service.
CAT and True subsidiaries Real Move and Real Future signed an agreement in January 2011 giving True a 14-year contract under a "wholesale and reseller partnership" with the state enterprise.
Under the deal, True took over the mobile phone business formerly run by Hutch. Real Move gained the right to sell CAT's 3G service nationwide for 14.5 years, while Real Future was contracted to install 3G equipment on CAT's two nationwide cellular networks.
But the NBTC found that under the arrangement, CAT, as the 3G licence holder, was effectively ceding control of its 850-megahertz frequency to True in violation of the law.
Col Settapong said CAT must stipulate that CAT use the 850-MHz band for its own equipment and devices as well as have full management control of the network operations centre. Mobile data usage and call detail records must be owned by CAT, and the contracts must be rewritten to stipulate that the state enterprise has full authority to manage the spectrum.
The contracts also must clearly state CAT is the sole authority to decide issues such as frequency planning, network rollouts and network operations. Finally, the NBTC said CAT must have the authority to negotiate with other operators over inbound domestic roaming and interconnection charges.
Col Settapong said the amendments are unlikely to affect 3G users under the TrueMove H service.
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Vodafone Launches New Affordable 3G Tariff Plans In India - Techie Buzz
Sanjoy Mukerji, Chief Commercial Officer, Vodafone India, said:
“We, at Vodafone, believe in offering services that add value to the lives of our customers through constant focus on meeting their needs. With the introduction of these plans, we aim at establishing a foundation for providing a 3G data plan for everyone, making it affordable to the masses in the country. Also, users who shy away from trying 3G services due to prohibitive costs can now experience services without the fear of a bill shock. The 2p/10kb PAYG & no additional charges for roaming are the first of its kind in the Indian market. We expect this offer to be well received by the customers as it will act as a strong value proposition for data users.”
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