27th Mar 2020 08:25
(Alliance News) - Rightmove PLC said Friday it has cancelled the payment of its final dividend for 2019 of 4.4 pence per share, due to the uncertainty caused by the Covid-19 outbreak.
In addition, the FTSE 100 property portal said it will not be able to quantify the impact of the virus on its financial and trading performance at this time, and has suspended all existing financial guidance for 2020.
On Friday last week, Milton Keynes-based Rightmove said it would offer customers a 75% discount on their invoices for four months starting from April, which was expected to reduce 2020 revenue by GBP65 million to GBP75 million.
For 2019, Rightmove reported revenue of GBP289.3 million.
Looking ahead, the group said it would take "appropriate measures" to contain its costs and reinforce its financial position.
Shares in Rightmove were down 5.5% at 462.40 pence on Friday in London.
By Dayo Laniyan; [email protected]
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