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Shoe Zone defers dividend

Footwear retailer Shoe Zone has announced plans to cancel dividend payments, as a result of the ongoing coronavirus crisis.

The decision was one of a raft of measures aimed at supporting the business through the current situation, including the furloughing of “the majority” of its workforce, the cessation of capital expenditure and applying to defer VAT payments.

Shoe Zone said it expected the closure of stores and dwindling demand to have a “material impact” on its results during the current financial year, but could not quantify the impact because of ongoing uncertainties.

Shoe Zone: “The scale of this reduction will depend upon how the situation develops, over what timeframe, and the impact of further public health, economic and business support measures being implemented by the UK and Irish governments.”

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