Vodafone set to raise its dividend for first time in eight years following return to growth

Vodafone is to hike its dividend for the first time in eight years as the benefits of a massive restructuring come through quicker than expected.

Shares in the mobile phone giant rose nearly 5p or 5.5% to 93.8p in early trading as it confirmed that the dividend for the year ending in March will be increased by 2.5%. The interim dividend was left unchanged at 2.25 Euro cents.