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SSP Group seeks City consent to cancel dividend: report
SSP is heavily dependent on footfall at transport locations.
SSP Group is discussing with City investors to find a way to cancel its final £27 million dividend payment, according to a report from Sky News.
The catering group behind the Upper Crust brand, which is notably dependent on footfall at transport locations such as airports and railway stations, declared its final dividend before tapping shareholders for £215 million of new equity when the coronavirus outbreak hit the UK.
One person close to SSP told Sky News that the mechanism for securing investor approval was proving to be "a challenge" because the company is legally obliged to pay the dividend.
Read the full report here.
