WPP , the world's biggest advertising company, said it was pulling its dividend and share buyback, and withdrawing its guidance for 2020 after it ...
LONDON: The world's biggest advertising company WPP has pulled its dividend and share buyback and withdrawn its 2020 guidance after the coronavirus pandemic sparked the most uncertain time in its 35-year history.
The pandemic, which has shut down the global economy with shopping districts deserted, sports fixtures cancelled and millions of people left idle, has come at a difficult time for the company that was founded by Martin Sorrell. The group, with 2019 revenue of 13 billion pounds, also had 3 billion pounds of cash at the end of 2019, and additional liquidity.
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