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Topps Tiles cuts dividend amid tougher economic climate
May 28 2008 by Tony McDonough, icNorthWest
Cheshire tile and wood floor retailer Topps Tiles is cutting its half-year dividend in response to tougher economic conditions.
Topps says the change in its dividend policy - resulting in a reduced payment to shareholders of 3p a share from 3.75p a year ago - reflects a “more prudent approach” in the current climate.
It also reports a 3% drop in like-for-like revenues since the start of April, weaker than the 0.9% fall for the first half of the financial year.
See Thursday’s Daily Post for full story.
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