Sappi freezes dividends as its market shrinks
The group says the trade war between the US and China has hurt the price of dissolving wood pulp
14 November 2019 - 10:37
Paper and packaging group Sappi has temporarily halted payment of dividends and cut capital expenditure, mainly because of lower prices for dissolving wood pulp and declines in sales of graphic paper due to the shift towards digital media.
Sappi’s share price fell to a four-year low in early trade on Thursday after the company released its full-year and fourth-quarter results. But it later rebounded to close 3.51% up at R37.46...
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