KEY POINTS:
Vodafone New Zealand has sent a $631 million dividend back to its parent company in London.
The dividend for three years marks its dominance of the mobile market as Telecom has fallen behind through delays in adopting 3G technology. And it comes as Vodafone is gearing up for an assault on fixed-line phone revenue, a market dominated by Telecom.
Vodafone New Zealand chief financial officer James Marsh said that dividend - and a profit of $191.5 million for the year to March 31, 2008, up from $161.5 million - indicated pleasing returns.
Vodafone's 3G Network has 53 per cent of the mobile phone sector.
But spokesman Paul Brislen said the dividend and profit result did not back up the view that New Zealanders are paying too much for mobile phone connections.
The dividend covers the three years from April 1, 2006 to March 31, 2008 and was revealed in the company's annual returns to the New Zealand Companies Office.
It is just the second time Vodafone New Zealand has paid out a dividend in the 10 years since its started in New Zealand.
Combined with the $425 million sent to the parent company in 2006, Vodafone New Zealand has paid its parent more than $1 billion, though it states it has invested $2 billion since it began.
Vodafone estimates capital expenditure this year will be $66.2 million compared to $43.6 million last year.
The company paid $78.4 million in tax last year compared with $82 million in 1997.
Operating revenue for the year to March 31 was $1.05 billion compared with $1.37 billion last year.
