Aspen punishes shareholders with no dividend
The group cut its net debt to R39bn, a big improvement on its position at the end of December
11 September 2019 - 19:57
Africa’s biggest pharmaceutical manufacturer Aspen Pharmacare has decided not to declare a dividend for the first time in almost a decade, as part of its measures to reduce its debt levels, it said on Wednesday.
Aspen has seen its share price drop 36% in 2019, after a series of blows compounded investor concerns about its high debt levels. Its share price closed on Wednesday at R84.93, less than a fifth of its R448.68 peak in January 2015...
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