StockMarketWire.com - Investor and asset manager Arrow pulled its dividend to preserve cash and postponed its annual general meeting amid the ongoing Covid-19 crisis. The company said it was no longer recommending the final dividend of 8.7p a share, resulting in a cash saving of approximately £15m as it looked to minimising financial risk. 'Whilst we are still yet to see a meaningful operational and financial impact on the Group so far, in light of the current uncertainty caused by Covid-19 and its impact on economic activity, the board believes that conserving capital and maximising financial flexibility is in the long-term best interests of the business and all its stakeholders,' the company said. Arrow group also scrapped its guidance for the rest of the fiscal year, citing continued uncertainty around economic activity.

At 10:09am: [LON:ARW] Arrow Global Group share price was +7.85p at 97.25p



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