“BT has come a long way in the past five years. This is a very strong set of results which demonstrates how much has been achieved. Revenue grew by 4 per cent and earnings per share before specific items grew by 16 per cent.
“I am delighted to report that our proposed full year dividend is 15.1 pence per share, 27 per cent higher than last year, moving to a two thirds payout ratio a year earlier than we had previously announced. In addition, because of the financial strength of the company, we are introducing a new £2.5 billion share buyback programme which we expect to be completed by March 31, 2009.
“We have delivered on our commitments and are confident we will continue to grow revenue, EBITDA, earnings per share and dividends over the coming year.”