- Estate agency franchiser M Winkworth said it would cut its annual dividend by 15% as the pandemic pressured earnings.

The company said it would pay a fourth-quarter dividend of 1.8p per share, bringing total dividends for the year to 6.6p, down from 7.8 p in 2019.

M Winkworth said its revenue in the year through December was broadly flat year-on-year, though pre-tax profit would fall.

Looking ahead, the company said it was relieved that estate agencies were to remain open for business during the current lockdown.

Fourth-quarter sales applications were up 44% year-on-year and lettings applications up 12%, giving the company 'considerable momentum' as it entered the 2021, it said.

At 9:17am: [LON:WINK] M Winkworth plc share price was 0p at 140p

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