REG-Rightmove Plc: Update on impact of COVID-19 - Final dividend payment

RightmoveAnnouncement

27/03/2020 07:05

27 March 2020

Rightmove plc

UPDATE ON THE IMPACT OF COVID-19 - FINAL DIVIDEND PAYMENT

Rightmove plc, the UK’s largest property portal today provides a further
update on the impact of the evolving COVID-19 situation on its dividend
payment. 

Financial update and dividend payment

The strength of our balance sheet and business model has enabled the Board to
act quickly to support our customers, as announced on 20 March, and we are
taking appropriate measures to contain our costs and reinforce our financial
position. 

Given the uncertainties caused by the impact of COVID-19, the Board considers
it prudent to cancel the proposed final dividend payment of 4.4p per share
(£38.3m in total) for the year ended 31 December 2019.  The dividend
declaration will therefore be withdrawn from the AGM business on 4 May 2020.
The Board recognises the importance of the dividend to our shareholders and
will consider the timing of the reinstatement of the share buyback programme
and the quantum of any interim dividend for 2020 in due course.

In this period of unprecedented uncertainty, we are unable to quantify the
impact of COVID-19 on our financial and trading performance at this stage.
Accordingly, the Group is suspending all existing financial guidance for 2020.
The Board is confident that the Company has the financial capacity to
withstand this challenging period.

Contact:

Rightmove press office 

Press@rightmove.co.uk

Investor relations

Investor.relations@rightmove.co.uk



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