March 26, 2020 / 6:22 PM / 13 days ago

BRIEF-Howden Joinery Says Reopening Some Depots, Suspends Share Buyback & Dividend

March 26 (Reuters) - Howden Joinery Group PLC:

* UPDATE ON TRADING AND IMPACT OF COVID-19

* REOPENING SELECTED DEPOTS TO PROVIDE SUPPORT TO TRADE CUSTOMERS.

* DIVIDEND RESOLUTION TO BE PROPOSED AT AGM WILL BE WITHDRAWN AND FINAL DIVIDEND WILL NOT BE PAID.

* BOARD IS NOT CHANGING ITS CAPITAL AND DIVIDEND POLICIES AND INTENDS TO RESUME SHARE BUYBACK PROGRAMME

* HAVE RE-EVALUATED OUR CAPITAL EXPENDITURE PLANS AND INTEND ONLY TO COMPLETE PROGRAMMES THAT ARE ESSENTIAL, UNDERWAY OR COMMITTED.

* EXPECT THIS FINANCIAL YEAR’S CAPITAL EXPENDITURE TO NOW TOTAL AROUND £40M.

* WITHDRAWING ITS RECOMMENDATION FOR FINAL DIVIDEND OF 9.1P PER ORDINARY SHARE IN RESPECT OF 2019 FINANCIAL YEAR

* GROUP WITHDRAWS ANY MARKET GUIDANCE FOR REMAINDER OF CURRENT FINANCIAL YEAR, ENDING 26 DECEMBER 2020 Source text for Eikon: Further company coverage:

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