We are!
For a Company that paid out bonuses throughout two world wars, to now cut dividends to shareholders beggars belief.
We know good reasons are given for the reduction i.e. - change of accounting practices etc. but for a Company that relies on dividends from investments to underwrite life and pension obligations what are they thinking of?
We are told the cash held back from dividend payout will serve to strengthen the Company's reserves an admirable reason but if the Company had been run prudently as in the past presumably none of this would have been necessary.
We agree with recent press comment if dividend payouts can not be restored in full at the year end then perhaps Mr Cowdery of Resolution Life fame should be given a chance, to improve the situation.