Treasury Wine Estates share price sinks again after dividend pause — what to watch next for ASX:TWE
Treasury Wine Estates shares fell 4.6% to A$4.74 in Sydney on Tuesday after suspending its interim dividend and posting a A$649.4 million half-year net loss. The company cited a A$770.5 million U.S. write-down, with revenue down 16.6% and operating profit off nearly 40%. The S&P/ASX 200 rose 0.24%. Management expects higher second-half earnings and is targeting A$100 million in annual cost cuts.