UK’s Vodafone to increase dividend for first time in 8 years, shares rise 5%

Vodafone’s shareholders will be rewarded with the first dividend increase in eight years after a return to growth in Germany helped the European mobile and broadband operator upgrade its earnings outlook.

Shares in the British company, which are trading at two-and-a-half-year highs, rose 5% to 94 pence after it reported on Tuesday a 5.9% rise in first-half adjusted earnings to 5.73 billion euros ($6.68 billion).