Uni-Select Inc: Falls after suspending dividend
20/04/2020 16:16
** Shares of automotive parts and paints distributor
UNS.TO fall ~8% to C$4.96
** Company to suspend all future dividend payments for the
time being as part of measures taken to shore up cash due to the
hit from the coronavirus outbreak urn:newsml:reuters.com:*:nCNWlYSNMa
** UNS also reiterates the pandemic could impact its
liquidity and ability to comply with financial covenants under
its credit agreement
** Earlier this month, the company said it had furloughed
50% of its employees and closed a third of its sites
temporarily, sending shares to near 2-decade low urn:newsml:reuters.com:*:nL4N2BP3WW
** Stock down 56.5% YTD
(Reporting by Shanti S Nair in Bengaluru)
((ShantiS.Nair@thomsonreuters.com))
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