Marks & Spencer is expected to bow to pressure to cut its dividend this week after suffering a 40% slump in annual profits. The board will meet tomorrow to finalise the dividend ahead of Tuesday’s results update. Last year M&S distributed £355m to investors and halving the final dividend would save more than £100m.
A reduction would deal a major blow to M&S’s legion of small investors who have remained loyal to Sir Stuart Rose, the executive chairman, despite its stalled recovery. It would also be an embarrassing about-face, as M&S raised the dividend by 23% just 12 months ago.
Click Here: thierry mugler angel