Bodycote defers dividend decision due to Covid-19

23rd Apr 2020 08:02

(Sharecast News) - Bodycote said on Thursday that it will defer a decision on its 2019 dividend until there is more clarity on the impact of the coronavirus pandemic.
In its update earlier in April, the company had already said it would be keeping the proposal for the final 2019 dividend under review.

"After due consideration, the board has determined that, given the current uncertainty, it is in the best interests of all stakeholders to defer the decision on the 14 pence per share dividend proposed with the announcement of the 2019 results in February until there is greater clarity around the severity of the Covid-19 related disruption," it said on Thursday.

The company said the timing of any payment will be contingent on prevailing trading conditions over the coming months, and the global economic outlook beyond this period. An update on the dividend payment will be provided in the third quarter.