UK unemployment has continued to move upwards, hitting a three year high of 4.5% (or 1.52 million people) in the period from June to August 2020, according to new estimates released today by the Office for National Statistics. While 4.5% is relatively low by historic and international standards so far in a recession this still represents a sharp increase on 4.1% rate of the previous quarter.
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.