The London-based carrier said it was suspending the final dividend for the latest financial year and wouldn’t make any payout for the following year, as it announced full-year results yesterday.
LONDON: BT Group Plc has scrapped dividends for two years after the coronavirus dashed hopes of a return to growth next year, and has set aside more cash to accelerate a national fibre network rollout. Its shares tumbled as much as 12%.
The London-based carrier said it was suspending the final dividend for the latest financial year and wouldn’t make any payout for the following year, as it announced full-year results yesterday.
Dividends will be half their previous level when they resume, it said. BT stepped up its fiber build-out target and said it was starting the next phase of a transformation programme that would reap annualised gross benefits of £2bil by March 2025 at a one-off cost of £1.3bil.
Limited time offer:
Just RM5 per month.
