Distell holds dividend as it renegotiates debt covenants
Measures were forced on the company by two government bans on liquor sales during lockdown
27 August 2020 - 20:00
Distell, producer of many of SA’s top alcohol brands, had to renegotiate debt covenants with banks after two government bans on the sale of alcohol destroyed an estimated R4bn in revenue.
The renegotiated debt terms mean it is unable to pay a final dividend despite being “a strong dividend payer for many years”, CFO Lucas Verwey said...
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