Rolls-Royce: cancels dividend and 2020 targets
(CercleFinance.com) - Rolls-Royce says its board of directors has decided to abandon its recommendation to pay shareholders of a final dividend of 7.
1 pence per share for 2019, which would have meant a total payout of 137 million pounds.
The British engine manufacturer justifies this decision, taken notwithstanding the group's financial and liquidity position, by the uncertain macroeconomic outlook caused by the coronavirus panedemic.
The limited visibility regarding the duration and the impact of the pandemic has also led it to withdraw its financial objectives for 2020, which include underlying operating profit that is up around 15%, along with free cash flow of at least one billion pounds.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
1 pence per share for 2019, which would have meant a total payout of 137 million pounds.
The British engine manufacturer justifies this decision, taken notwithstanding the group's financial and liquidity position, by the uncertain macroeconomic outlook caused by the coronavirus panedemic.
The limited visibility regarding the duration and the impact of the pandemic has also led it to withdraw its financial objectives for 2020, which include underlying operating profit that is up around 15%, along with free cash flow of at least one billion pounds.
Copyright (c) 2020 CercleFinance.com. All rights reserved.