after the shock of Royal Mail’s dividend cut, a rather more reassuring update

Questor Income Portfolio: ‘Nothing has changed’ was the company’s message to shareholders this week. But there was a surprise lurking in Premier Oil’s statement

It was a blow for this column when in May Royal Mail announced that it would cut its dividend for the 2019-20 financial year. It was the first time that one of our stocks had imposed such a reduction.

At the time we decided to hold on to the shares on the basis that even the new, reduced divi represented an attractive yield that would be hard to find elsewhere.

It was therefore with some trepidation that we awaited the firm’s first update on trading since then. That update came yesterday.