Polaris Holding Company Defer Dividend

June 17, 2020

In a filing with the Bermuda Stock Exchange [BSX], Polaris Holding Company Limited announced the deferral of their dividend payment.

The filing stated, “Please note that, today, 17 June 2020, the Directors of Polaris Holding Company Ltd., unanimously resolved to defer payment of a dividend in the amount of BD $0.08 per shares to the shareholders of record as at 25 June 2020.

“Noting falling cargo projections for fiscal 2021 and pending negotiations with its unionized staff for change within its bedrock operating Company [Stevedoring Services Limited], the Board took the view that an immediate deferral of the dividend sets the right tone for the unknown but anticipated impact of Covid-19 during this fiscal year.”

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  1. Jack Archer says:

    Noting falling cargo projections for fiscal 2021 …. not a good sign