Business
Packer will be parched as Crown’s dividend drought likely to drag on – Sydney Morning Herald
James Packer’s 37 per cent stake in Crown is his largest investment and the dividend it yields is his major source of income.
Crown did pay a dividend in the previous six months in the period to December 2019. While Crown had made healthy profits during this pre-COVID period, the actual dividend was paid in April 2020 – at a time when the first wave of the pandemic was decimating its cash flow and its Melbourne facility was mostly closed.
Other companies took a different approach and cancelled their payments to shareholders.
In theory at least this will be the first result under the new Crown regime – one where the board…
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