Burberry, hit hard by the pandemic, scraps its dividend
The luxury fashion brand saw its sales drop by 27% in the final quarter
22 May 2020 - 13:46
London — Britain’s Burberry has said the luxury fashion industry will take time to recover from the profound impact of the coronavirus pandemic that lowered its comparable sales by 27% in the final quarter and led it to scrap its final dividend.
The company, famous for its trench coats and trademark check, said the dividend cancellation will save about £120m to help it through the crisis and it will review the payout at the end of its 2021 year...
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