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Dividend nerves plague GSK

Dividend nerves plague GSK

GlaxoSmithKline’s (GSK) investors are a nervous bunch. Most hold the pharma giant for its dividend, and concerns that their income might be under threat from rising costs and poor cash flows caused a mass exodus from the stock in 2017. But the dividend is safe for now. Management intends to keep the payout at 80p a share in 2018, so long as there is no “material change in the external environment”.

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