- Professional services firm RPS said it wouldn't pay a dividend for 2020 after its quarterly fee revenue slipped 12% in constant currency.

RPS said it made the dividend decision due to the ongoing national lockdown in the UK and uncertainty over a recovery in its markets.

It added that it anticipated resuming dividends for 2021, providing markets continued to recover.

Fee revenue in the fourth quarter fell to £115.8 million, down from £130.3 million year-on-year,

The fall, however, marked a sequential improvement from the 16% constant-currency fall recorded in the second quarter and 18% fall in the second.

'Fee revenue improved in the quarter as individuals continued to return from furlough and from reduced working hours,' RPS said.

'With lockdowns continuing across Europe, we continue to match capacity to market activity while ensuring the safety and welfare of our people.'

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