Business
Decisive Dividend Corporation Reports Financial Results for the Three and Six Months Ended June 30, 2020
(via TheNewswire) Kelowna, British Columbia - TheNewswire - August 13, 2...
About this update from Decisive Dividend Corp.
[{"type":"text","content":"Decisive Dividend Corporation Reports Financial Results for the Three and Six Months Ended June 30, 2020(via TheNewswire)\n \n \n\n\nKelowna, British Columbia - TheNewswire - August 13, 2020 - Decisive Dividend Corporation (TSXV:DE) (the \"Company\" or \"Decisive\") reported its financial results for the three and six months ended June 30, 2020. All amounts are expressed in Canadian dollars. The Company's Q2 unaudited interim condensed consolidated financial statements as well as its management's discussion and analysis (\"MD&A\") are posted on SEDAR and on Decisive's website.\n\n\n\nJames Paterson, Chief Executive Officer of Decisive, noted:\n\n\n\n\"I am very proud of the work that has been done and is continuing throughout our organization as we manage through the pandemic. Our leadership teams have shown compassion and commitment to their businesses, their customers, and their employees, all while vigilantly following the recommendations of the applicable health authorities to prevent the spread of COVID-19. \n\n\n\nIn light of the pandemic's effect on the worldwide economy, our philosophy coming out of the first quarter was to operate with an abundance of caution. To date this has served Decisive well, as all of our subsidiaries have remained operational and the Company has been able to reduce debt levels with the cash generated by those businesses. Operating results overall were better than expected in the second quarter and we remain very confident in the long-term prospects of each of our businesses. \n\n\n\nAlthough the Company was onside its debt covenants in the second quarter, our senior lenders also demonstrated their support of Decisive by providing covenant relief for the next two quarters, giving us greater financial flexibility through to the end of the year. We do remain committed to paying a dividend over the long term and will resume payments when appropriate and prudent to do so. However, given the prevailing economic uncertainty regarding a potential second wave of COVID-19 we will continue to focus our efforts on preserving liquidity and financial strength to manage through this unpredictable global downturn, which will leave us well positioned once the effects of this challenging business environment subside.\" \n\n\n\n\n \n \n\nQ2 2020 Financial Highlights:\n\n \n\n- Sales decreased by 20% relative t...