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Micro Focus scraps dividend to brace for coronavirus fallout

·1-min read

LONDON, March 18 (Reuters) - British IT company Micro Focus International will not pay a final dividend as part of its plan to brace for the fall out of the coronavirus pandemic, it said on Wednesday.

"While there has been no material impact on Micro Focus' business to date, the ultimate impact on the global economy is unknown," it said. It will consider paying a second interim dividend in lieu of the final dividend once it has more visibility.

It said it had cash on hand of in excess of $600 million at 29 February 2020.

(Reporting by Kate Holton; editing by Guy Faulconbridge)