- Office space provider IWG said it would pull its final dividend in an effort to shore up its balance sheet as the Covid-19 outbreak pressured its businesses.

The company said it would not pay the final dividend of 4.8p a share that was previously declared with the group's 2019 full-year results.

'We expect there to be pressure on our global business as countrywide lockdowns are implemented in an increasing number of geographies,' IWG said. 'We continue to closely monitor the ongoing developments in relation to COVID-19 and are taking appropriate actions to reduce operational costs, limit both growth and maintenance capital expenditure and optimise cash flows,' it added.

'At the present time, given the evolving nature of the Covid-19 pandemic, it is too early to provide earnings guidance in relation to the remainder of the current financial year,' the company said.

At 9:36am: [LON:IWG] Iwg PLC share price was -30.1p at 129.9p

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