- Software company Micro Focus International said was no longer recommending a final dividend for its 2019 financial year as it monitors the cost of the coronavirus outbreak.

The company had intended to pay investors 58.33c per share.

'Today's announcement is made in the context of the current increased macro uncertainty, which has been uniquely impacted by the global spread of COVID-19,' the company said.

'While there has been no material impact on Micro Focus' business to date, the ultimate impact on the global economy is unknown.'

'As a minimum we believe it appropriate to be prepared for a level of disruption to our new sales activity even though the majority of our revenues are contractual and recurring in nature.'

'As a result, we think it is right to approach the next twelve months with a reduced risk appetite and heightened sense of caution.'

Micro Focus said it would consider paying a second interim dividend in respect of the year through October 2019 'once there is some visibility on the effects of the COVID-19 on the company's business'.

Story provided by