Vodafone shares soar after Verizon announces $10B dividend

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Vodafone Group Plc (VOD) climbed the most in four months in London trading after announcing a one-time dividend of 2 billion pounds ($3.3 billion), the first payout from its U.S. venture since 2005.

Verizon Wireless, in which Vodafone owns a 45 percent stake, said yesterday it will pay a $10 billion dividend. Vodafone, based in Newbury, England, will receive 2.8 billion pounds in total and use the remaining 800 million pounds to reduce net debt.

Full Story: Vodafone climbs after winning first dividend from US venture since 2005