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XP Power Ltd - Singapore-headquarter company that designs and manufactures power controllers - Decides to cancel the second-quarter dividend of 19.0 pence per share that was due to be paid to shareholders on October 12. Intends to pay no further dividends for financial 2023 but says it will restart paying dividends ‘as soon as appropriate.’ Says it continues to take all necessary internal actions to manage its cost base and cash resources. Chair Jamie Pike comments: ‘Notwithstanding these short-term challenges, the board believes XP has a positive longer term outlook and we are fully focused on ensuring that the group realises its potential.’ Current stock price: 759.50 pence, down 6.1% in London on Friday afternoon 12-month change: down 54% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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