Metair postpones dividend as Covid-19 hits profits

Electric vehicles produced as in-house projects by the Metair Group are seen in this file photograph. Metair said it has the liquidity to survive the next few weeks, during which its operations will be hit by lockdown efforts. Picture: SUPPLIED

Metair — which manufactures, distributes and sells batteries and automotive components — has withheld about R240m in dividends due to uncertainty over the Covid-19 virus. The group was due to pay 120c per share for its year to end-December on April 20, but has delayed this until the release of its interim results, expected in August.

Metair said it believes it has the liquidity to survive the next few weeks, during which its operations will be hit by lockdown efforts.

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