WBHO withdraws dividend


WBHO withdraws dividend

Published Date: 2020-03-26 | Source: Stephen Gunnion | Author: Stephen Gunnion

WBHO withdraws dividend

The construction and infrastructure group says it remains committed to future dividends once circumstances permit.

Wilson Bayly Holmes-Ovcon (WBHO) has withdrawn its interim dividend to protect its cash reserves due to the uncertainty caused by the Covid-19 pandemic.

The construction and infrastructure group will close all its operations from midnight tonight in line with the government's 21-day lockdown. It says it has implemented the necessary plans to ensure the start up and continuity of its SA operations once the lockdown is lifted.

It resumed dividend payments with the proposed 80c payout for the six months to end-December following a big improvement in earnings. That's after withholding an interim dividend a year earlier when its results were affected by a big loss provision for a roads contract in Australia.

Its shares closed 0.7% higher at R81 yesterday.

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