Savills PLC (LON:SVS) has announced it is withdrawing payment of the final dividend and the special interim dividend, totalling 27.05p per share, that it declared with its full-year results on March 12.
The FTSE 250-listed estate agent said it is looking to preserve cash due to the market uncertainty caused by the coronavirus pandemic, although the group added that t has a “strong” balance sheet.
READ: Savills expects "temporary delay in activity" from coronavirus
Savills said it could declare an “enhanced” interim dividend at the time of its annual general meeting, which has been moved to June 25 from May 6, based on the group's performance up to then.
Shares dropped 4% to 794.5p on Wednesday at the opening bell.
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