EMI pulls dividend payments

Music group EMI today suspended dividend payments until “the benefits of its restructuring” had been fully realised.

In the latest blow to shareholders, the company said it had taken the decision in view of its funding requirements.

EMI paid a full-year dividend of 8p (11c) a share in its last financial year.

EMI has issued a number of profits warnings over the past year, but said today a turnaround strategy announced in February was progressing ahead of plan.