Royal Mail Axes Dividend for This Year

Postal operator joins the growing list of FTSE dividend cutters as it embarks on another restructing programme

James Gard 25 June, 2020 | 11:03AM

Royal Mail

Royal Mail (RMG) has dealt a blow to embattled income investors by suspending its dividend for this financial year as it restructures in the wake of the coronavirus crisis.

Announcing the loss of 2,000 management jobs alongside its annual results, the listed postal operator said it will not pay a dividend for the current financial year of 2020-21. The full-year payout for the year just gone is 80% lower than the previous year at 7.5p, due to the board’s decision not to pay a final dividend for 2019-20.

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James Gard  is content editor for Morningstar.co.uk

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