19th Mar 2020 17:28
(Alliance News) - Croma Security Solutions Group PLC on Thursday said it has decided to cancel its interim dividend payout due to uncertainty created by the coronavirus outbreak.
Earlier in March, Croma declared an interim dividend of 0.75 pence per share, but has cancelled the payout due to the Covid 19 outbreak. The company said this was the most prudent course of action and was in the best long term interests of its shareholders.
"The directors' intention is to reinstate this dividend once there is greater clarity as to the longer term impact of the outbreak on the Group's business. The board is evaluating the actions that it may take to mitigate the impact of the outbreak on the g, its business and staff and its customers and to preserve the cash reserves of the group for the time being," the company said.
The stock closed down 21% at 60.00 pence on Thursday.
By Arvind Bhunjun; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Croma Security