Meggitt down as dividend cancelled

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Meggitt down as dividend cancelled
Master Investor Magazine

Master Investor Magazine 60

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Shares in FTSE 100 engineering group Meggitt Group (LON:MGGT) fell 6.79% to 314.50p (as of 10:55 GMT) after the board withdrew its recommendation to pay a final dividend. The company made the decision after carrying out further analysis of COVID-19 on the civil aviation sector.

Management said that this action, together with a range of cost control measures, would strengthen the firm’s financial position in the current climate.

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