Obviously these are difficult times for everone including company bosses, share holders and especially front line staff (many of whom have zero hour contracts and minum wage acrosss the UK). There are no easy answers. As an investor, I was hoping that some holdings would at least have a silver lining of paying their already declared dividends and then slowly, perhaps very slowly recovering. I did not realize declared dividends would and could be cancelled; and I did not realize payment of dividends is entirely optional for solvent companies after the ex date. I would have assumed directors pay and bonuses would be cut first (or equally). I was wrong. Starting yesterday a series of FTSE companies are reviewing their dividends (which is entirely sensible) and some (not all) refusing to pay their dividends and this is sometimes after ex-div day. Of course, once they declare their refusal to pay, their share price absolutely crashes even more than before sometimes down 70,80,90%. Has anyone ever known this situation before? So now we have companies severely impacted by coronavirus fears (eg down 50%), smashed by its own broken promise (down another 25% and btw more than the dividend yield %), taking on more debt and becoming a no-go area for future investors preventing recovery. Let me say, I understand the need to keep afloat and keep workers jobs, but actually no one is really thinking of this. Many companies are putting workers on *unpaid leave* with only a small handful giving *paid leave* due to special circumstances. Obviously we have to avoid the companies going insolvent and the government has announced various rescure packages but they are slow to reach those in need, and in any case how much will make it to the actual staff? In summary when things go pear shared what happens in what order? 1st borrowing increases as companies arrange emergency loans; 2nd workers are not paid or laid off or sent on unpaid leave ; 3rd declared dividends are not paid; 4th and last and in rare circumstances directors cut very slightly (in one example I could find 20%) of their bonus and pay. This is all very backwards imho. PIRC has called to suspend all bonuses in this difficult period but this is not mandatory (https://www.thisislocallondon....). When the banks failed bailouts went mainly to those at the top. Is this going to happen…

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