Playing Bingo: Rank Scraps Share Dividend

Wednesday, December 12, 2007

Rank Scraps Share Dividend

As I mentioned earlier, Rank issued a trading report today that has seen their recent problems continue. Sales and admissions are down, and the near future is described as "challenging." Share prices dropped slightly, but given the speculation that continues about a take over of the company, the drop was comparatively small given the bad news in trading figures.

The knock on effect of this is that a number of planned projects such as club refurbishments and extensions have been shelved for 6 - 9 months to give the company time to see how future trading pans out. Rank has also scrapped the dividend for share holders as part of their package to optimise their business to cope with the trading climate.

Posted at 11:00 PM |

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