BT workers and shareholders could need debt management solutions
BT workers and shareholders could need debt management solutions
Thursday 14th May 2009
An even bigger number risks being left in need of debt advice because the company's shares have also fallen in recent times, meaning their investments are worth less than they would have been.
The company has now slashed its yearly dividend to 6.5 pence and consumers holding shares with the firm have now been advised by retail stockbroker the Share Centre to start looking at other options.
According to Nick Raynor, an investment adviser at the organisation, consumers can find better long-term opportunities within the telecoms sector that can enable them to recoup their losses.
"With a dismal dividend on offer and difficult trading conditions set to continue, we are advising BT shareholders to sell at present," he stated.
"Although BT's efforts to streamline the business may later help it turn the corner, it is too early to say when and if these measures will work," he added, recommending Vodafone for those still keen on investing in the telecoms sector.
Mr Raynor stated that Vodafone's revenue rose by over 14 per cent in the third quarter and added that the group "continues to satisfy both customers and income seekers" by offering a stable dividend of more than five per cent.
The 15,000 job losses have been announced in the wake of data showing the number of people working and the rate of employment are continuing to decline.
According to the figures from the Office for National Statistics, the number of people out of work is now above 2.2 million.
News article brought to you by Debt1 – UK debt management specialists.
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