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FDM Group Pulls Final Dividend And Postpones General Meeting
(Alliance News) - IT consultant and recruiter FDM Group Holdings PLC said Friday it will not recommend the payment of a final dividend for 2019 of 18.5 pence per share, in order to maximise its financial strength amid the Covid-19 virus pandemic.
In addition, London-based FDM has postponed its annual general meeting to no later than June 30, the original date being April 29.
Looking ahead, FDM said its cash balance at the end of 2019 was GBP37 million, with no debt, giving the group a robust cash position.
"At this early stage, our agile end-to-end business model appears to be relatively resilient to the challenges which are emerging in the marketplace. Although a small number of our Mounties have returned from client deployment, the vast majority of them continue to work on their client engagements, typically remotely," FDM stated.
Shares in FDM were up 3.5% at 719.00 on Friday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
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