February 2, 2018 / 12:07 PM / a year ago

Crisis-hit Steinhoff to halt dividends to save cash

JOHANNESBURG, Feb 2 (Reuters) - South Africa’s Steinhoff said on Friday it would suspend dividend payouts until after the end of June as part of efforts to save money and convince creditors to waive some payments due in coming weeks.

The multinational retailer is fighting for survival after it discovered accounting irregularities in December, sparking a sell-off that has wiped more than $10 billion off its market value. (Reporting by Tiisetso Motsoeneng; editing by Jason Neely)

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