Dividend slashed 80%.
SNC-Lavalin, the embattled company at the centre of one of Canada’s biggest political scandals in years, had a brutal second quarter of 2019.
The company posted a net $2.12 billion loss.
In response, they are slashing their dividend a whopping 80%, from 10 cents per share to 2 cents per share.
SNC-Lavalin lost $2.18 billion in their engineering and construction business, which was not even close to being offset by a small gain of $65.5 million in SNC Capital, as reported by BNN Bloomberg.
Previously, the Quebec government left the door open to a possible bailout of the embattled firm.
Spencer Fernando
Photo – YouTube
