Wood Plc will not pay 2020 final dividend as earnings drop

(Reuters) - Engineering company Wood Plc on Tuesday said it would not pay a 2020 final dividend and posted a 26.3% drop in full-year core earnings as the COVID-19 crisis kept its clients in the energy market from more investments.

Wood, which provides engineering and technical services to industrial and energy markets, said adjusted earnings before interest, tax, depreciation and amortization came in at $630 million for the year ended Dec. 31, compared with $855 million last year.

(Reporting by Shanima A in Bengaluru; Editing by Devika Syamnath)