Premier Foods, the UK’s largest food group, has refused to be drawn on reports that it plans to cut its dividend in half in a bid to reduce debts.
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The company will announce its full-year results tomorrow (4 March) and a report in the Financial Times claims the Hovis bread maker will slash it total dividend by at least 50%.
Shares in Premier Foods have suffered in recent weeks amid anxiety that the business is suffering financial problems.
Premier Foods has seen rising costs weigh on the business and in Janaury the company warned that pressure would continue this year.
A spokesman for Premier Foods remained tight-lipped on the prospect of the company eating into its dividend. “We can’t make any comment,” he told just-food.
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