Ted Baker (UK) suspends dividend in 2019
Ted Baker stock has lost a stunning 78 percent year-to-date in London. Yesterday Ted Baker announced the exit of its CEO, together with a new profit warning. Ted Baker also announced that it will cancel its dividend.
Earlier this year the company already cut its interim dividend, following a lower final dividend announced last year. This ended a record of 20 consecutive years of dividend hikes and followed a 12.1 percent dividend hike in 2017.
"While the immediate actions are being implemented the Board has determined that dividend payments will be temporarily suspended. The Board recognises that dividend is an important part of our returns to shareholders and will look to resume payment as soon as it is appropriate to do so."
Ted Baker is a global lifestyle brand offering menswear, womenswear, accessories and everything in between. A quintessentially British brand, Ted Baker is famed for its quirky yet commercial fashion offering, high quality design detailing and distinctive use of pattern and colour. The brand's unconventional approach to fashion, irreverent sense of humour and, above all, unswerving attention to detail appeals to style-conscious men and women who trust Ted to deliver that certain something out of the ordinary. In order to protect the ethos and persona for which we have gained an enviable reputation, we always ask ourselves the question…."Would Ted do it that way?"