FINANCIALS: Randstad cuts dividend payment due to Covid-19 uncertainty

Randstad is to cut its dividend payment for 2019 to retain capital as the recruitment giant contends with the financial uncertainty brought about by the coronavirus outbreak.

In a statement released this morning, the group revealed it had made the move as a precautionary measure ahead of its annual general meeting, which is being held tomorrow (24 March).

Elaborating, Randstad CEO Jacques van den Broek said: “We are taking this decision as a precautionary measure. In the current environment with insufficient visibility, capital preservation is a key priority. The removal of our dividend proposal is the prudent measure to do as we balance the needs of stakeholders, including candidates, clients, employees, investors and others. 

“As always, Randstad’s first priority is the health and safety of our employees, candidates, clients and the communities in which we operate, I would also like to take this opportunity to thank my Randstad colleagues for their incredible commitment and dedication with which they are responding to these difficult times. As we speak, all our colleagues around the world are in remote daily contact with their clients and candidates.”

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