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Wolters Kluwer maintains buyback, final dividend, suspends 2020 guidance

May 06, 2020 11:27 AM ETWolters Kluwer N.V. (WTKWY) StockWOLTF, WTKWYBy: Vandana Singh, SA News Editor1 Comment
  • Wolters Kluwer (OTCPK:WTKWY -0.6%) reported a rise in Q1 revenue, approved a final dividend and maintained its share buyback
  • Though, the company withdrew its 2020 guidance in the wake of coronavirus-related disruption.
  • Revenue rose 3% on a constant-currency and 4% on an organic basis
  • Recurring revenues representing ~82% of Wolters Kluwer's annual revenue, rose 5%, while nonrecurring revenue declined 2% organically.
  • The final dividend for 2019 was approved, and is set to be paid on May 20; maintains share buyback of up to €350M, though the pace has been slowed with a mandate for €50M in buybacks for the next three months.
  • Wolters Kluwer narrowed its net debt to €2.14B, compared to €2.20B at Dec. 31; ended the period with net cash of €298M and an undrawn facility of €600M

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