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£19,000 car allowance seems really stingy for a CEO.
" Nick Read will receive his salary and benefits during the remainder of his employment (to 31 March 2023) and thereafter will receive an amount in lieu of his salary, and continued participation in the Vodafone Group Private Medical Plan, during the remainder of his twelve-month notice period. Payments will be made in monthly instalments, subject to any mitigation in accordance with the service contract, until 5 December 2023, when his notice period would otherwise have ended."
He is literally being put on Gardening leave from April 2023 to December 2023 ....they really must have wanted him gone
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VOD paid €7.2 billion for ONO in Spain and has never really made any progress or profit there - plus losing the battle for Másmovil to one of the main competitors,Orange .....Evercore now looking to finally sell a stake for VOD there ... a highly competitive pricing market ....
Italy is equally highly price competitive with low cost models
New CEO has to make some real decisions that Read has delayed
Are you serious? Those words " share price perfromance" this actually translate to 50 BILIION wiped off the market value of the company , of course it is why he gone, he has turned the largest mobile phone company by revenue into a tiny here today gone tomorrow bit player.
Hi Kryten1,
Re your posting at 08:23 today, in which you ask:-
"Quick question guy's, as a fairly new investor does the amount of dividend depend on how many days you've held the share. ".
The simple answer is "No". With each dividend payment (with Vodafone there are 2 a year), what it depends on is the dates you held the shares - with each particular payment you either get it in full, or you don't get it at all.
In this case, the dividend was announced on 15 Nov 2022 (if you press the "RNS" symbol near the top of the page, and scroll through the list of announcements for the one dated 15 Nov 2022 you can read their half-year results in which the dividend, with dates, was announced). The "ex-dividend" date was stated as 24 Nov 2022. If you owned the shares on 23 Nov you will get the dividend, whereas if you bought them on 24 Nov or later, you won't get it. The declared dividend was 4.5 Eurocents, and about a week before the date the dividend is due to be paid, there'll be another announcement as to what it will be in Sterling (ie in £/p). It's due to be paid on 3 Feb 2023. Very very roughly, it will be about 4p, but it depends on what the exchange rate does nearer the time.
I hope that helps.
Mike.
92 for me
Bye Bye Nick - hello ski slope
Finally....30% rerate coming now
I don't believe the share price performance is the reason Read is going, usually these things happen when the CEO and Board of Directors disagree on strategy. I expect news will leak out, explaining Read's hasty departure, big market players/investors probably already know the reason, and have driven his ousting.
"If you believe that you can buy vodacom direcly. No need to buy vodafone."
I don't invest outside of the FTSE, and I don't need to since Vodafone own over 60% of Vodacom.
If you believe that you can buy vodacom direcly. No need to buy vodafone.
"There is no need to vodafone to hold vodacom. They should just split the company in 2, and just distribute the Vodacom shares to the shareholders. Let them decide which one they want to keep."
In my opinion Vodacom is an important asset to keep, Africa is an important growth area and includes assets like MPESA. It would be madness to reduce holdings in Vodacom.
shorts closing positions this morning me thinks
Here comes all the “Vod should do this or VOD should do that brigade”. No-one on here has the first idea on how to run a company the size of Vodafone but the armchair CEO’s will have their say AND display their stupidity.
There is no need to vodafone to hold vodacom. They should just split the company in 2, and just distribute the Vodacom shares to the shareholders. Let them decide which one they want to keep.
" What are we expecting with the sp today?"
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- GAMECHANGER!
Busy now. Laters - if I can......
THis is stella news, stop carping on about dividend cuts you all sound like remoaners, let's rejoice for a while in the knowledge this man who has destroyed shareholder value and reducued this once proud huge company to a minion player has gone. hip hip hooray
New CEO could sell everything south, invest enterprise/ business everything north in the recovery, pay down debt, maintain dividend...
Market likes the rns
"bt cut dividend to restore the debt load. I also think new ceo should sell of holdings in Australia, Spain, Italy, Ghana and even sell down some shares in vodacom."
Why Vodacom? And why would they sell any assets with the markets current treatment of Telecom assets in general?
Quick question guy's, as a fairly new investor does the amount of dividend depend on how many days you've held the share. If not surely everybody would flit from share to share around ex div dates ?
bt cut dividend to restore the debt load. I also think new ceo should sell of holdings in Australia, Spain, Italy, Ghana and even sell down some shares in vodacom.
"Agree, this is sub 80p when dividend news drops...
Probably a decent 5 year hold."
I don't disagree about the possibility of the dividend being completely dropped, but that doesn't necessarily mean the share price will drop below 80p as a result. The way stocks have been behaving, over the last 10 years, suggests dividends make very little difference to valuations these days. Some income investment funds could dump the stock, but other players could step in to hold the price.
Don’t expect a new CEO to deliver big SP gains anytime soon. Vod’s strategy to simplify its structure by selling or merging assets takes time unless you sell on the cheap, which to be fair to Nick Read he wasn’t prepared to do. He rejected the undervalued Iliad offer for the Italian assets and apparently has been hard nosed in his dealings with Three UK (Hutchison). On top of simplifying it’s structure comes the issue of debt and the only quick way to do that is to reduce the dividend. Nick Read did this shortly after becoming CEO so expect the new permanent CEO to do the same. Consequently, I don’t see the departure of Nick Read as good news for those, like me, who have primarily invested in avid for income.
Well Mikey you now have your wish & I for one expect you as an ex VOD employee to be applying for the current vacancy. Only then will the SP rise to where we all hope.
Agree, this is sub 80p when dividend news drops...
Probably a decent 5 year hold.
maybe complete dividend cut for few years to restore balance sheet