Serco stops dividend payments

British outsourcing company Serco will cancel i's dividend after releasing the fourth profit warning in the last 12 months.

Serco, that runs railways and prisons in the UK, will cancel it's dividend, that had been raised for more than 25 years.

The scandal hit company, that charged Britain for monotoring criminals in it's prisons that were dead already, announced a rights issue of 550 million pounds, while making provisions of 1,5 billion pounds.

The shares of Serco lost more than 30% in London today, reaching the lowest levels in at least ten years.

Serco had been one of the very few European Dividend Aristocrats, having increased its dividend for more than 25 consecutive years.

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