A spokesman said Andy Halford had told reporters in New Delhi on Wednesday that the $5.5 billion figure stemmed from an assumption that Verizon Wireless had an annual free cash flow of $10 billion to $12 billion.
Vodafone owns 45 percent of Verizon Wireless, with Verizon Communications
Verizon Chief Executive Ivan Seidenberg said at the end of last year that he did not plan to consider a Verizon Wireless dividend until the end of 2011.
Analysts welcomed the comments as the dividend from Verizon Wireless has been long awaited by investors.
However, Liberum analyst Mark James noted a 70 percent payout ratio was typical for telcoms, and that Verizon was unlikely to move to a 100 percent ratio.
(Reporting by Kate Holton)