March 18, 2020 / 11:36 AM / in 19 days

Builder McCarthy & Stone warns of coronavirus impact, scraps dividend

March 18 (Reuters) - Retirement-home builder McCarthy & Stone scrapped its full-year dividend on Wednesday and said it expects a “material impact” on trading in the coming months due to the coronavirus outbreak.

The homebuilder said it would fully draw down its 200 million pounds revolving cash facility, which will result in available cash balance of 127 million pounds.

The company, which has over 56,000 homes in the UK, withdrew a proposal to pay a final dividend of 3.5 pence per share, adding it was too early to assess the impact of the virus on its full-year performance. (Reporting by Samantha Machado in Bengaluru; Editing by Saumyadeb Chakrabarty)

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