Vodafone vows big payouts when it floats mast business Vantage Towers next year
Vodafone has indicated that the Vantage Towers mast business it plans to float next year will look to pay chunky dividends.
As the telecoms giant unveiled the latest financial results for the mobile towers business it will spin off in the first quarter of 2021, it said Vantage will seek to pay out 60 per cent of its recurring cash flow as dividends.
This would be £251million for the current year to the end of March, it said.
Vodafone said its mast business Vantage will seek to pay out 60 per cent of its recurring cash flow as dividends. This would be £251m for the current year to the end of March
Vantage, one of the largest mobile tower owners in Europe, with 68,000 sites, posted revenues to £430million for the half-year to September.
It intends to build a further 7,100 sites as it expands.
Vodafone said Vantage is ‘well positioned’ to benefit from growth in data usage, the roll-out of 5G and increased network coverage.
Vivek Badrinath, chief executive, said: ‘Vantage Towers is ready to support its customers to satisfy this demand.’