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UK engineer Senior scraps dividend amid coronavirus fallout

British aerospace engineer Senior Plc said it was scrapping its dividend to save cash to deal with the expected impact of the coronavirus crisis on demand from its customers, including planemaker Boeing.

LONDON, March 26 (Reuters) - British aerospace engineer Senior Plc SNR.L said it was scrapping its dividend to save cash to deal with the expected impact of the coronavirus crisis on demand from its customers, including planemaker Boeing.

Senior said in a statement on Thursday that it was taking other cost cutting actions such as reducing capital expenditure as it warned that trading for the rest of 2020 would be impacted and it was suspending its guidance for this year.

(Reporting by Sarah Young; editing by Kate Holton)

((sarah.young@thomsonreuters.com; +44 20 7542 1109; Reuters Messaging: sarah.young.thomsonreuters@reuters.net))

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