Betting and gaming giant Tabcorp will not pay a full-year dividend to shareholders amid the uncertainty of the COVID-19 pandemic.
The group informed the share market on Tuesday and said it had arranged more financing with banks to improve liquidity.
Tabcorp has been affected by the postponing of professional sport and the recent closure of pubs, clubs and betting venues.
These venues provide about 28 per cent of revenue.
Management is unable to provide earnings guidance.
About 700 employees of the group have been stood down until June 30.
Race meetings have continued, as have Tabcorp’s digital channels and lottery sales through retailers.
Businesses across industry have cancelled or suspended dividend payments to conserve money during troubled economic times.
Shares in Tabcorp were valued at $3.17 before the ASX opened.
The shares have lost more than 30 per cent in value since January 1 amid a wider market downturn.