Listed law firm Gateley has withheld more than £3m in shareholder payouts to keep hold of cash with activity dented by the Covid-19 pandemic.
The firm said today (24 March) it would cancel its interim dividend of 2.9 pence a share, which was due to be paid at the end of this month, in order to ‘maximise the group’s short-term liquidity’. The total interim dividend due to shareholders, including the firm’s partners, was about £3.4m, up more than 11% on last year.
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