Alcon: 2020 guidance withdrawn, dividend delayed
(CercleFinance.com) - Alcon said that it is withdrawing its full-year 2020 guidance, that it initially disclosed in February, due to uncertainty around the impact of the COVID-19 pandemic.
The Swiss eye care group said that the numerous lockdown measures imposed in many of its markets have prompted a deferral of procedures and exams, thereby impacting its financial results.
In its statement, Alcon said it is unable to estimate the ongoing impact on its results.
In light of current market conditions, Novartis' former unit has decided to delay the its proposed dividend payment until 2021, so to maintain financial flexibility and preserve cash.
Alcon said it will hold its first annual general meeting on 6 May, without shareholders physically attending.
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