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  • BUSINESS: Northern Rock bank to cancel interim payout to shareholders

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BUSINESS: Northern Rock bank to cancel interim payout to shareholders

The trouble-hit Northern Rock bank has announced it will cancel an interim payout to its shareholders. The payment, worth an estimated fifty nine million pounds, had been announced in July 2007, before the bank's emergency funding request to the Bank of England provoked a mass panic with customers withdrawing billions of pounds from their accounts. The board has said it would not be appropriate to hand out the dividend until it could make a full announcement about its future.

ITN Source | September 25, 2007Watch more videos from ITN Source

Tags:. .source. .million. .england. .july. .hand











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