Balfour Beatty cancels dividend and warns Covid-19 crisis will impact its finances
Balfour Beatty managed to keep 78 per cent of its UK sites open in April – when most builders had shut down
Balfour Beatty has cancelled its dividend and warned that Covid-19 will impact its finances.
The construction company managed to keep 78 per cent of its UK sites open in April – when most builders had shut down – and more than 80 per cent in May. But it said almost a fifth of them suffered ‘significant disruption’ due to a lack of workers and materials.
Balfour said it was cancelling the final dividend payment, worth 4.3p per share, because of the ‘current environment’.
The firm later announced it would redeem preference shares at a price of 100p each plus interest on July 1.