While a dwindling few remain hopeful for a rapid economic recovery, the reality is we’re in for months, if not years, of economic fits and starts until a vaccine to the coronavirus is developed. The eventual restart of the economy – whenever it comes – will also force a much-needed conversation about how we value business in the post-pandemic era.
Dividend recaps: this is not going to end well
An early proponent of dividend recaps – the financial two-step where equity capital is replaced by debt – was Thames Water.
