Arrow Global Group (ARW)

Sector:

Financials

Index:

FTSE Small Cap

125.40p
   
  • Change Today:
      1.20p
  • 52 Week High: 299.00
  • 52 Week Low: 60.80
  • Currency: UK Pounds
  • Shares Issued: 177.28m
  • Volume: 81,993
  • Market Cap: £222.31m
  • RiskGrade: 369

Arrow scraps dividend to save £15m in virus turmoil

By Sean Farrell

Date: Monday 06 Apr 2020

LONDON (ShareCast) - (Sharecast News) - Arrow Global has scrapped its final dividend to save £15m and withdrawn financial guidance in response to uncertainty caused by the Covid-19 crisis.
The distressed credit asset manager said it had not yet experienced a significant operational or financial impact from the crisis but that its board had decided it was prudent to withdraw the proposed final dividend of 8.7p a share for the year that ended in December. It said the decision would save £15m.

"The board believes that conserving capital and maximising financial flexibility is in the long-term best interests of the business and all its stakeholders," Arrow said. "Given the level of continued uncertainty around economic activity, it is not possible to provide financial guidance for the 2020 financial year."

The company said it would review capital allocation as the year progresses, including how much it spends to buy credit assets. Arrow said it had strong liquidity with £153m of financial headroom and no debt maturing until 2024. It joins a long line of companies scrapping payouts to shareholders to conserve cash during the crisis.

Arrow said its annual general meeting on 2 June would be "purely functional" and that no shareholders would be allowed to enter the meeting would be refused because of the government's order for people to stay at home and avoid public gatherings.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

ARW Market Data

Currency UK Pounds
Share Price 125.40p
Change Today 1.20p
% Change 0.97 %
52 Week High 299.00
52 Week Low 60.80
Volume 81,993
Shares Issued 177.28m
Market Cap £222.31m
RiskGrade 369

ARW Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
76.81% above the market average76.81% above the market average76.81% above the market average76.81% above the market average76.81% above the market average
75.18% above the sector average75.18% above the sector average75.18% above the sector average75.18% above the sector average75.18% above the sector average
Price Trend
39.45% below the market average39.45% below the market average39.45% below the market average39.45% below the market average39.45% below the market average
27.78% below the sector average27.78% below the sector average27.78% below the sector average27.78% below the sector average27.78% below the sector average
Income
42.06% above the market average42.06% above the market average42.06% above the market average42.06% above the market average42.06% above the market average
6.33% above the sector average6.33% above the sector average6.33% above the sector average6.33% above the sector average6.33% above the sector average
Growth
2.77% below the market average2.77% below the market average2.77% below the market average2.77% below the market average2.77% below the market average
44.26% below the sector average44.26% below the sector average44.26% below the sector average44.26% below the sector average44.26% below the sector average

What The Brokers Say

Strong Buy 6
Buy 0
Neutral 1
Sell 1
Strong Sell 0
Total 8
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

ARW Dividends

  Latest Previous
  Interim Final
Ex-Div 05-Sep-19 06-Jun-19
Paid 11-Oct-19 12-Jul-19
Amount 4.40p 8.70p

Trades for 29-Oct-2020

Time Volume / Share Price
16:35 15,906 @ 125.40p
16:29 39 @ 128.00p
16:29 40 @ 128.00p
16:29 26 @ 128.00p
16:29 21 @ 127.80p

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