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Savills Suspends its Dividend to Preserve Cash

The real estate consultancy has announced that it is cancelling the payment of its dividend due to the uncertainty that currently exists around the impact that Covid-19 may have on the real estate sector.

Mark Ridley director ejecutivo Savills
Mark Ridley, CEO of Savills

The real estate consultancy firm Savills, known in Spain as Savills Aguirre Newman following its merger with the Spanish company, has announced that it is suspending the payment of its planned dividend. The firm had intended to pay its shareholders 27.05 pence per share.

The company has made this decision in anticipation of the impact that the Covid-19 coronavirus could have on real estate activity globally over the coming months, according to Savills. The current objective is to preserve cash for the period of uncertainty that lies ahead.

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