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Polaris Holding Company Ltd. – Defers Payment of Dividends
Hamilton, Bermuda -17 March 2021 –: In a filing with the Bermuda Stock Exchange (“BSX”), Polaris Holding Company Limited (the “Company”; Ticker: POLAR.BH) announce the deferment of their dividend. The filing stated.
At a Board of Directors meeting held today, the Directors of Polaris Holdings Company Ltd., unanimously resolved to defer payment of dividends to the shareholders of record as at 26 March 2021.
During the third quarter of fiscal 2021, and continuing into quarter four, while cargo volumes have improved, and cost savings have been implemented, the Company continued to run a deficit. In light of this, and to best manage cash flow, the Board agreed to continue to defer the dividends and will re-evaluate the Company’s position to determine to what degree, if any, a fiscal 2022 quarter one dividend can be issued.