March 24, 2020 / 11:38 AM / 10 days ago

Tallink scraps dividend as coronavirus stops shipping

TALLINN, March 24 (Reuters) - Estonian shipping firm Tallink said on Tuesday it would scrap its planned 6 eurocents per share dividend for 2019.

“The Company’s Management Board is actively focused on managing costs and cash flows to ensure it is ready to resume regular operations as quickly as possible after the crisis,” the company said in a statement.

Tallink has stopped traffic on most of its routes and cut back frequencies between Tallinn and Helsinki, after countries implemented isolation measures to prevent the spread of coronavirus. (Reporting by Tarmo Virki; editing by Jason Neely)

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