Oxford Instruments suspends dividend due to coronavirus

Oxford Instruments said on Monday that it is suspending its interim dividend due to the coronavirus outbreak.

The provider of high technology products and services to industrial companies said it continues to trade in line with revised guidance and net cash has increased to more than £60m.

"This puts us in a strong position to manage through this difficult period," it said.

However, given the uncertain backdrop, it is taking "all necessary internal actions" to manage its cost base and cash resources "prudently", it said.

"In light of these actions, together with future measures that are being assessed to navigate through these difficult times, the board feels that it is appropriate to suspend payment of the interim dividend, which was due to be paid on 14 April."