Irish Continental Final Dividend 2019

 
TIDMICGC 
 
   IRISH CONTINENTAL GROUP PLC ("ICG") 
 
   1 July 2020 
 
   Final Dividend 2019 
 
   Irish Continental Group plc announces that the directors have decided to 
withdraw the proposal to pay a final dividend in respect of the year 
ended 31 December 2019. 
 
   On 5(th) March 2020, the Company published the Preliminary Statement of 
Results for the year ended 31 December 2019 in which the Directors 
proposed a final dividend of 8.99 cent per ICG Unit subject to 
shareholder approval at the 2020 Annual General Meeting ("AGM"). Details 
of the proposed final dividend were also set out in the Annual Report 
for the year ended 31 December 2019, which was published on 30 April 
2020. 
 
   Since March 2020, as reported in the Trading Update released on 11 June, 
introduction of travel restrictions across the EU as a result of the 
COVID-19 pandemic has led to a significant reduction in current 
passenger traffic and forward bookings for what is normally the peak 
summer passenger season for ICG's Irish Ferries services. It is very 
difficult to estimate the full year financial impact on the ICG Group as 
the reduction in passenger revenue will be material. While the Company 
retains a strong liquidity position, the Directors consider it prudent 
not to proceed with the final dividend payment against this background 
of market uncertainty and will no longer propose a resolution to approve 
the dividend at the AGM. 
 
   The AGM is scheduled to be convened on 28 July 2020 and the Notice of 
AGM will shortly be made available to shareholders. 
 
   END 
 
   _________________________________________________________________________________ 
 
 
   Enquiries: 
 
   Eamonn Rothwell, Chief Executive Officer                      Tel: +353 
1 607 5628 Email: [e-mail] 
 
   David Ledwidge, Chief Financial Officer             Tel: [phone] 
Email: [e-mail] 
 
   _________________________________________________________________________________ 
 
 
   Media enquiries: 
 
   Q4 Public Relations                                           Tel: +353 
1 475 1444    Email: [e-mail] 
 
   SHYSHYSHYSHYSHYSHYSHYSHYSHYSHY_________________________________________________________________________________ 
 
 
 
 
 
 
   1 July 2020 
 
 
 
 

(END) Dow Jones Newswires

July 01, 2020 02:00 ET (06:00 GMT)

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