Diageo (NYSE:DEO) says it will halt its buyback program due to the pandemic, but will go ahead with an interim dividend due to be paid this month.
“Widespread containment actions put in place by governments across the globe in March, including the closure of bars and restaurants, are having a significant impact on the performance of our business,” notes the company.
In mainland China, Diageo said it’s beginning to see a very slow return of on-trade consumption.
Diageo pulls its sales and profit guidance due to the uncertainty created by the pandemic.
Diageo press release