O2 Turning on the charm

The wait is over for O2 investors. The Anglo-German mobile operator has unveiled a maiden dividend which, at 2.25p a share, was greater than many had expected. If the company had paid an interim dividend too, as it will this financial year, its shares would offer a 2.9% yield, a reward in line with that of Vodafone. The dividend was supported by a near doubling of earnings. O2 also accelerated to 15.7% its rate of customer growth, from 14% in 2004, despite the increasing maturity of its core UK...