Britain’s telecom group BT shares are tumbling 8% on Thursday after the announcement to suspend its dividend and currently trade around 105.20 (GBX). The 2019/20 reported results were in line with expectations, but the dividend plan is worse than expected.
The company said its board has decided that it was more prudent to suspend the 2019/20 final dividend and all dividends for 2020/21. This is creating uncertainty for the near-to-medium term outlook, hence the lower share prices.
