Given the critical nature of the products and services that we provide to a number of nations, the key role we play in national economies and the local communities in which we operate, the Group has a number of near-term priorities:
1) Protect the wellbeing of our employees
2) Meet customer priorities and support them as they face unique challenges
3) Support our supply chain in dealing with pandemic related disruption
4) Preserve and protect our capabilities and the strength of the Group's business which is underpinned by our £45bn order backlog and programme positions
5) Ensure that we maintain liquidity and balance sheet strength and thereby remain robustly funded in anticipation of a potentially extended
period of uncertainty.
And on the dividend;
Final Dividend Payment, Executive Director Remuneration and AGM
The liquidity and business profile of the Group is strong. This remains however reliant on the goodwill of our customers and the financial strength of our supply chain to maintain the drumbeat of production commitments both now and in the future.
Against a background of significant government and social challenges, and the uncertainty as to the duration of the resulting disruption, the Board believes it is in the Company`s best interests, having regard to all our stakeholders' interests, to defer the decision on the 13.8 pence per share dividend proposed by the Board when announcing the Company's 2019 results in February.
We recognise the importance of the dividend to our shareholders and whilst it remains our intention to pay a dividend, the timing of any payment will be contingent on prevailing macro-economic and social conditions over the coming months. An update on the dividend payment will be provided at the Half Year results on 30 July 2020, at which time the Board will also review remuneration of the Executive Directors.
The Company's AGM will be held on 7 May 2020 as scheduled. As public gatherings of more than two people are currently prohibited, shareholders (other than two senior executives) will not be able to attend the meeting in person. Shareholders will still be able to vote by proxy using the usual online and postal facilities. A poll will be taken on each of the resolutions put to the meeting and the results will be posted on the Company website. Given the deferral of the proposed dividend payment, a resolution to approve a final dividend will not be put to Shareholders at the AGM.
https://www.investegate.co.uk/bae-syste ... 00066636I/