Cancelled and postponed dividend payments during COVID
March 29, 2022
A chronology of the listed company announcements which either cancelled or post-poned dividends were declared in February 2020 as the pandemic first hit.
March 19
Qantas: announces delay of 20c dividend worth $201 million from April 9 until September 1.
March 20
Corporate Travel Management: deferred its 18c interim dividend from April 14 until October 2, saving $19.6 million in cash for the business.
March 23
Flight Centre: cancelled 40c dividend which was payable on April 17, saving $40 million.
Nick Scali: deferred the 25c interim dividend from March 27 until October 2.
March 24
Downer: was due to a pay a 14c dividend costing $83 million the next day on March 25 but has deferred this until September 25.
WPP: cancelled its 4.4c final and special dividend which was payable on April 7.
March 25:
Fletcher Building: cancelled the 9c dividend which was due to be paid on April 9.
IVE Group: cancelled its 8.6c dividend payable on April 22 saving $12.7m.
March 26
Super Retail: cancelled 21.5c dividend which was payable on April 2, saving $43 million.
IDP Education: $41m dividend was due to paid the following day but this was deferred until September 24.
Northern Star: a belated March 26 statement warning of 10-15% drop in March quarter production and deferral of $55m interim dividend.
March 30
ARB Corp: despite having no debt, announced deferral of 18.5c dividend from April 17 until October 23. This preserved $15 million.
April 2
Harvey Norman: cancels $149.5 million 12c dividend payable which was declared on February 28 and payable on May 4. Traded ex dividend on April 2 ahead of the announcement.
Crown Resorts: announced deferral of 20c dividend for two weeks from April 3 until April 17 as it finalised new financing arrangements. Also removed 25% franking. Payout worth $200 million.
April 6
Seek: a detailed 4 page update on April 6 including deferring interim dividend.
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