Tesco cuts interim dividend by 75%

British retailer will lower its interim dividend by 75% to 1.16 pence per share.

The dividend cut for the troubled British supermarket operator was expected by many analysts. Tesco pays a semi-annual dividend.

Two years ago Tesco halted its impressive strike of consecutive annual dividend increases. After 25 years of annual dividend growth the payout was left unchanged for the last two years.

Now Tesco will cut its interim dividend by 75% to 1.16p per share. Analysts expect a sharp cut for the final dividend also.

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