Contract issues
Many contracting parties have already been affected by force majeure events arising out of the Covid-19 pandemic and the associated restrictions. Various locations around the globe are now experiencing a “second wave” of the pandemic and the re-imposition of restrictions.
The second wave has important implications for contracting parties, some of whom may still be in a force majeure situation under their contracts. The force majeure considerations in the “second wave” of Covid-19 are discussed in a recent post on our Disputes Notes blog.
Dividends
The London Stock Exchange (LSE) has announced that the temporary relaxations to dividend payment timetables introduced due to the Covid-19 pandemic will end on 2 November 2020.
The LSE introduced temporary measures on 25 March 2020 to allow issuers a deferral period of up to 30 business days for the payment of dividends, up to a maximum of 60 days from the record date (see our blog post here). When these temporary measures end, cash dividends should be paid within 30 business days of the record date.
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Disclaimer
The articles published on this website, current at the dates of publication set out above, are for reference purposes only. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action.