StockMarketWire.com - Chemicals company Elementis scrapped its dividend to save costs in an effort to preserve cash flow as the impact of Covid-19 virus presented 'significant' demand and operating uncertainty.

'The 2019 final dividend of 4.4487p a share will no longer be proposed at the AGM scheduled for 29 April 2020m' the company said. 'The cash impact of this decision to suspend the dividend is $33m in H1 2020. Future dividend decisions will be made as and when conditions normalise.'

The update came as the group confirmed it had experienced a solid start to the year, with its sites around the world continuing to operate at normal levels and performance in line with its expectations, benefitting from efficiency actions implemented in 2019.


At 9:59am: [LON:ELM] Elementis PLC share price was +27.26p at 45.57p



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