Irish Continental Final Dividend 2019
July 01 2020 - 2:00AM
UK Regulatory
TIDMICGC
IRISH CONTINENTAL GROUP PLC ("ICG")
1 July 2020
Final Dividend 2019
Irish Continental Group plc announces that the directors have decided to
withdraw the proposal to pay a final dividend in respect of the year
ended 31 December 2019.
On 5(th) March 2020, the Company published the Preliminary Statement of
Results for the year ended 31 December 2019 in which the Directors
proposed a final dividend of 8.99 cent per ICG Unit subject to
shareholder approval at the 2020 Annual General Meeting ("AGM"). Details
of the proposed final dividend were also set out in the Annual Report
for the year ended 31 December 2019, which was published on 30 April
2020.
Since March 2020, as reported in the Trading Update released on 11 June,
introduction of travel restrictions across the EU as a result of the
COVID-19 pandemic has led to a significant reduction in current
passenger traffic and forward bookings for what is normally the peak
summer passenger season for ICG's Irish Ferries services. It is very
difficult to estimate the full year financial impact on the ICG Group as
the reduction in passenger revenue will be material. While the Company
retains a strong liquidity position, the Directors consider it prudent
not to proceed with the final dividend payment against this background
of market uncertainty and will no longer propose a resolution to approve
the dividend at the AGM.
The AGM is scheduled to be convened on 28 July 2020 and the Notice of
AGM will shortly be made available to shareholders.
END
_________________________________________________________________________________
Enquiries:
Eamonn Rothwell, Chief Executive Officer Tel: +353
1 607 5628 Email: info@icg.ie
David Ledwidge, Chief Financial Officer Tel: +353 1 607 5628
Email: info@icg.ie
_________________________________________________________________________________
Media enquiries:
Q4 Public Relations Tel: +353
1 475 1444 Email: press@q4pr.ie
SHYSHYSHYSHYSHYSHYSHYSHYSHYSHY_________________________________________________________________________________
1 July 2020
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