The uncertainties of coronavirus that pave the road ahead for Stagecoach (SGC) leave it unlikely to pay any further dividends for its financial year running to 2 May 2020. Stagecoach directors are also taking a 50 per cent pay cut.
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Stagecoach, which is predominantly a UK bus company, has experienced a 40 per cent drop in regional commercial patronage, with turnover here accounting for nearly two-thirds of its regional bus income. The group has accordingly reduced its regional daily mileage by 40 per cent, in a service that resembles its Sunday operations. Its London buses have also been affected.
