Coronavirus forces McCarthy & Stone to cancel dividend

By Joey Gardiner2020-03-18T11:48:00

Housebuilder says it needs to manage cash

Retirement housebuilder McCarthy & Stone is cancelling its final dividend payment of the year due to the uncertainty created by the coronavirus pandemic.

Shares in the housebuilder, which sells primarily to those reaching retirement age, fell more than 9% as it announced it was withdrawing its proposal to recommend a 3.5p per share dividend payment at its annual general meeting next Wednesday, given the need to manage cash in the business.

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