StockMarketWire.com - Regeneration specialist St Modwen Properties scrapped its 2019 final dividend, having recently decided to pause all housebuilding and on-site marketing activity amid the Covid-19 pandemic.

The company had planned to pay a final dividend of 5.1p per share.

It said it had a strong liquidity position, with £169m of cash on a see-through basis, a low see-through loan-to-valuation ratio of 22.8% and no significant debt maturities until December 2023.

'Given the positive long-term fundamentals of the company's key business activities, the board of St Modwen remains confident that we remain well positioned for the future,' the company added.




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