Pick n Pay defers R850m dividend as Covid-19 bites
12 May 2020 - 09:40
Retailer Pick n Pay is holding onto about R850m in cash by not paying a final dividend, warning that the disruptions caused by Covid-19 has disrupted trade in more profitable goods such as liquor and tobacco.
The group would have paid a final dividend of 173.06c a share for its year to end-March 1, saying on Tuesday that while the trading outlook remained uncertain, SA’s economy was likely to contract significantly in 2020...
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