Cancellation of interim dividend

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  1. 68.7k

    Given the uncertainty regarding the duration of the COVID-19 pandemic and its potential
    impact on trading, the Board has decided to cancel the FY20 interim dividend of 21.5 cents
    per share, which was announced to the market on 20 February 2020. This will result in $43
    million of cash being retained in the business. In the present environment the Board
    believes that preserving cash is the most prudent course of action to maintain liquidity and
    protect shareholder value. As a result of this decision, the Group’s dividend reinvestment
    plan has been suspended.
    Anthony Heraghty said, ”COVID-19 and its impact on our business and the community is
    uncertain and changing rapidly. We are taking all actions available to us to best navigate
    the Group through this difficult period. We remain focused on continuing to provide
    essential and self-sufficiency products to our valued customers.”

    courtesy of Bell Direct

    ( DYOR )

    i hold SUL

    am very happy i haven't been buying this recently

    but the recent price slide might hint at a leaky ship

    1 like
  2. 4.7k

    Most companies sal are suspending/cancelling interim dividends etc. so hope that the Big4 Banks won't follow suit & do likewise...

  3. 68.7k

    less than a week from the pay date ( not the ex-div. date )

    the big banks are VERY likely to do this now the trend has spread well beyond our 'national ' airline

    after all they have been 'unquestionably strong ' for several yeas ( sarcasm )

    and the practice is growing rapidly

    if the banks do suspend the divs do the 3 ( ANZ , WBC , NAB ) , drop below $10 ???

    once they start ducking they are unlikely to rush back to 70% payouts

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