8th Feb 2016 09:10
LONDON (Alliance News) - Rolls-Royce Holdings PLC is poised to cut its dividend payment to shareholders for the first time in almost 25 years, the Guardian reported Sunday, following a series of profit warnings in the past two years.
The company reports full year results on Friday, and is expected to warn of more struggles ahead after already having outlined extensive cost-cutting plans, job cuts, and the scrapping of two divisions.
The last time Rolls cut its dividend was in 1992. It paid almost GBP500 million in dividends to shareholders in 2014.
http://www.theguardian.com/business/2016/feb/07/rolls-royce-to-cut-dividend-payouts
As part of a profit warning in mid November, Rolls-Royce had said it would review its dividend policy in light of the weak expectations for 2016, with any changes to be announced in due course, and said it will undertake a wide-ranging restructuring of the business.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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