23:25 Mon 23 Mar 2020
Covid-19 update and 2019 Final Dividend
Covid-19 Update and 2019 Final Dividend
G4S, the leading global security company provides the following update on Covid-19.
As reported on
The Board notes that, in the period since
G4S is working with employees, customers, suppliers, regulators and governments to strengthen business continuity plans and to protect the company and its key stakeholders. Across our operations we continue to have mutually supportive relationships with our customers, governments and other key partners who recognise the critical importance of, and ongoing need for, the services G4S provides.
As reported in our 2019 annual results, as at
On
Notwithstanding the company’s strong liquidity, robust business continuity plans and the immaterial financial impact to date, the Board considers that the uncertainty relating to Covid-19 and its impact on economic activity in our key markets has increased substantially since 11 March. In these circumstances, the Board has concluded that it is prudent and therefore in the best interest of the company that G4S does not pay a 2019 final dividend. Accordingly, the Board is not proposing to recommend the payment of a final dividend in respect of the full year 2019 at the forthcoming Annual General Meeting.
In addition, the company is taking steps to reinforce its focus on strong operating cash generation, capital efficiency and other measures to prioritise free cash flow.
Once the adverse impact of Covid-19 has abated, it is the Board’s intention to restore the dividend taking into account its stated objective of attaining dividend cover of 2x and thereafter, pursuing a progressive dividend policy.
Notes:
- G4S had previously stated, in its preliminary full year results announcement on
11 March 2020 , that the Board would propose a final dividend of 6.11p per share for the year ended31 December 2019 at the forthcoming Annual General Meeting. - This announcement contains inside information and the person responsible for making this announcement is Celine Barroche, Company Secretary.
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Notes to Editors:
G4S is the leading global security company, specialising in the provision of security services and solutions to customers. Our mission is to create material, sustainable value for our customers and shareholders by being the supply partner of choice in all our markets.
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