Finance

U+I suspends dividend as bosses take 50% during virus outbreak

By 2020-04-15T08:05:00

Matthew Weiner, chief executive of U+I

Developer U+I has become the latest property group to suspend its dividend in order to preserve cash during the Covid-19 pandemic.

In a trading update to investors, the group said it was axing the investor payout in order to hold onto around £4.4m of cash and is also not proposing any dividend for the current year. The group is also suspending its financial guidance for the year.

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