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ASA International defers dividend as earnings growth falls short amid pandemic hit

By BFN News | 09:04 AM | Wednesday 03 June, 2020


Microfinance institutions ASA International deferred its final year dividend owing to the impact of Covid-19 as earnings growth fell short of expectations amid slowing performances in its businesses across key geographies. 'In view of the spread of Covid-19 to and the expected disruption of all our markets, the board has decided to suspend the 2019 dividend approval until a final decision later in the year,' the company said. Earnings growth for the year was 7%, which was below the company?s initial expectations, as the company reduced lending in the north-eastern Indian market, the worsening security situation and sluggish economic growth in Nigeria weighed on performance. In the first quarter of its new fiscal year, net profits were lower than initially expected amid sluggish performance in the last two weeks in March. At 9:04am: (LON:ASAI) Asa International Group Plc Ord Gbp1 Wi share price was 0p at 119.25p Story provided by StockMarketWire.com

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