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UK's Centrica says upcoming review should not lead to further dividend cut

Published 19/02/2015, 11:20
© Reuters. UK's Centrica says upcoming review should not lead to further dividend cut
CNA
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LONDON (Reuters) - Britain's Centrica (L:CNA) is unlikely to need to cut its dividend again after it has completed a strategic review of the business in July, CEO Ian Conn said in an investor call on Thursday.

The company said earlier on Thursday it would cut dividend payouts by 30 percent after falling energy prices drove profits down by more than a third in 2014.

It said it also would carry out a strategic review of the business by July.

Conn said he did not expect the findings to lead the company to cut the dividend by more than already announced and that it would "require another step change in conditions facing the company" for this to happen.

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