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ScS suspends interim dividend; outgoing CEO agrees to stay on longer

By BFN News | 07:58 AM | Monday 06 April, 2020

Furniture and flooring retailer ScS said it had suspended payment of its interim dividend due to the Covid-19 crisis. 'At a time when the UK Government is supporting ScS, it seems inappropriate to use the cash for anything other than protecting the financial strength and resilience of the business,' the company said. 'The board recognises the importance of income to the Group's shareholders and will continue to assess when it is appropriate to recommence dividend payments. ScS also announced that outgoing chief executive David Knight had agreed not to retire before the end of July 2021. ' 'David is prepared to be flexible should the appointment of his successor and a smooth handover require a little longer,' the company said. 'The board is very grateful to David for his flexibility regarding his retirement date.' Story provided by

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