Steel & Tube posts $60m net loss, no dividend

Fri, 28 Aug 2020

Steel & Tube Holdings reported a bottom-line annual loss of $60 million and a break-even operating result due to the coronavirus pandemic as previously flagged, and won't pay a final dividend.The company cancelled the first-half dividend in March as the pandemic loomed and paid out 5 cents per share last year.The latest result compared with a $10.4 million net profit the previous year, and follows years of poor performance that the company is still in the throes of turning around.Steel & Tube isn't the only company operatin...

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