WBHO battens down the hatches by withholding dividends
Group expects the 21-day lockdown that starts at midnight on Thursday to affect its SA operations
25 March 2020 - 18:19
Wilson Bayly Holmes-Ovcon (WBHO), SA’s largest construction company by market value, has joined a number of companies in withholding dividends, closing the tap on a R48m shareholder payout to keep itself financially flexible amid the coronavirus pandemic.
Companies in sectors such as mining and property have in recent weeks reviewed their dividend policy due to the uncertainty over coronavirus, which has triggered a 21-day nationwide lockdown that is set to hit SA’s ailing economy, shut down factories, mines and stores and potentially force analysts to throw out their corporate earnings estimates...
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