Wrightson backs itself to pay upcoming dividend

Thu, 26 Mar 2020

PGG Wrightson will pay its upcoming dividend but said the covid-19 pandemic has made the outlook too murky to keep its annual earnings guidance.The country’s biggest rural services firm said its strong balance sheet and solid first-half result meant it still had capacity to pay a 9 cents per share dividend, or $6.8 million, on April 3. Its net debt was drawn down to $59.3 million at Dec. 31, giving it about $60 million of headroom under its $50 million core facility and $70 million working capital facility. “We also consider that the compa...

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