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Centrica Plc Issues Trading Update - Quick Facts

Centrica plc (CNA.L) has decided to withdraw its 2020 Group AOCF guidance. The Group said the impact that reduced energy demand and weaker economic conditions will have on 2020 AOCF and adjusted earnings is difficult to quantify precisely. The Group noted that it still expects Upstream division to be no worse than free cash flow neutral in 2020.

With mitigating actions, total Group capital expenditure including E&P is now expected to be around 600 million pounds, compared to around 800 million pounds at the time of the preliminary results. The Board has decided to cancel the 2019 final dividend payment of 3.5 pence per share, due to be paid in June 2020.

The Group noted that it will not be possible to hold the AGM as intended on 11 May. The AGM will be held as a closed meeting and shareholders will not be able to attend in person. The Group requested shareholders to exercise their votes by submitting proxy forms either electronically or by post.

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