Rightmove PLC (LON:RMV) has announced plans to cancel its proposed final dividend payment of 4.4p per share for the year ended 31 December.
The property portal said it will save £38mln amid market uncertainty brought on by the coronavirus pandemic.
READ: Rightmove cuts prices by 75% to help struggling estate agents
The FTSE 100-listed firm said it will consider restarting the share buyback programme and the amount of the interim dividend for 2020 “in due course”.
The group's board added that it is “confident” in Rightmove’s financial capacity to get through the crisis though it has suspended guidance for the remainder of the year.