Home Business News Staffline shares slump after dividends are scrapped

Staffline shares slump after dividends are scrapped

by LLB Reporter
17th Jun 19 12:36 pm

Staffline shares have fallen after news the recruitment group are not paying out dividends to shareholders as they are looking to raise £37m to cut their debt.

On Monday the recruitment firm said the annual results for 2018 will show exceptional costs of £32.6m.

The company also needs to pay for historical non-compliance with the national minimum wage between 2013 and 2018, they will put aside £15.1m up from £7.9m.

The board will save £7.2m by not recommending a final dividend for the 2018 financial year.

Shares in the company fell by 31.3% on Monday.

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