Should Morrisons have hiked dividend after business rate holiday?

The group benefitted to the tune of £93m from the temporary tax break and is handing £49m to shareholders, an increase of nearly 6 per cent 

James Moore
Chief Business Commentator
@JimMooreJourno
Thursday 10 September 2020 19:18
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Morrisons: Britain’s number four supermarket has boosted its dividend despite a fall in profits
Morrisons: Britain’s number four supermarket has boosted its dividend despite a fall in profits

Should Morrisons really be hiking its dividend after having received a fat subsidy from the government?

That debate is live again after Britain’s number four supermarket hiked its pay out by nearly 6 per cent to £49m. The group reported £155m of extra Covid-related costs, including the need to take on hordes of extra staff who had to be paid.

Cushioning the blow: £93m worth of business rate relief courtesy of the government’s business rate holiday. 

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