StockMarketWire.com - Footwear retailer Shoe Zone said it planned to cancel a final dividend payment that it had already declared earlier in March.

The 8p per share final dividend for 2019 had been deferred and the company said it planned to hold a general meeting in May to allow shareholders to vote on a resolution to cancel the payout.

Shoe Zone said that it had seen a fall in footfall across its stores in recent days.

'Whilst the full extent of the coronavirus on the short and medium term retail environment is not yet clear, it is becoming ever more apparent that it will create significant disruption to people's lives and shopping habits in the coming months,' the company said.

'The decision to defer and take steps to propose the cancellation of the 2019 final dividend has been taken with the unanimous backing of the board and is one of number of appropriate measures being implemented to conserve the company's cash balances and ensure the robustness of the business to protect it from a sustained period of challenging trading.'




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