Musings —10.30.2019 08:34 AM—
They are in deep, deep trouble. Very sad to see.
Torstar Corp. suspended its quarterly dividend as it reported a $40.9-million loss attributable to shareholders in its latest quarter.
The publisher of the Toronto Star newspaper says it suspended the regular payment to shareholders of 2.5 cents per share as part of its plan to preserve its cash and strengthen its financial position.
The board of directors plans to review the dividend policy again in the fourth quarter of 2020, the company says.
The decision came as Torstar reported a loss of 50 cents per share for the quarter ended Sept. 30 compared with a loss attributable to shareholders of $18.8 million or 23 cents per share in the same quarter last year. Operating revenue fell to $111.8 million compared with $126.4 million.