logo
Plus   Neg
Share
Email

Meggitt Withdraws Dividend Recommendation Due To Covid-19 - Quick Facts

Aerospace, defence and energy company Meggitt PLC (MGGT.L) Friday said its Board has decided to withdraw the recommendation to pay the final dividend of 11.95 pence per share due to the impact of coronavirus or Covid-19.

In its update on the impact of Covid-19, the company said it has conducted further analysis of the adverse impact on the civil aerospace sector and its business. The analysis incorporates the latest industry projections on the reduction in air traffic in 2020, and the associated decrease in demand for both original equipment and aftermarket services.

The company also has taken a series of significant measures to reduce costs and tightly manage cash flow. The decisions are expected to further strengthen its financial position and liquidity.

The company will provide a further update on progress and its first quarter trading performance in AGM statement on April 23.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Sundial Herbal Products has recalled around 65 products, which were misbranded and currently unapproved drugs, the U.S. Food and Drug Administration said in a statement. The recall follows an order by a federal judge in June to stop distributing the company's unapproved new drugs. The affected items include herbal products and dietary supplements. Amid the worsening coronavirus pandemic and mounting costs, banking major Wells Fargo & Co. is preparing to cut thousands of jobs starting later this year, Bloomberg Law reported. Citing people with knowledge of the confidential talks, the report noted that executives are drafting plans that may ultimately eliminate tens of thousands of positions from its about 263,000 workforce. KIND Healthy Snacks is recalling a limited number of Oats & Honey Granola pouches citing the presence of undeclared sesame seeds, the U.S. Food and Drug Administration announced. The recall involves KIND Oats & Honey Granola with Toasted Coconut. Sesame seeds, a known allergen, is not listed as an ingredient in the product, instead, the label lists "sesame seeds" under the "May Contain
Follow RTT