Alliance Data Suspends FY20 Outlook Amid COVID-19; Declared Quarterly Dividend

(RTTNews) - While reporting its financial results for the first quarter on Thursday, Alliance Data Systems Corp. (ADS) said it is suspending its previous financial guidance for the full year 2020 as it is difficult to project the duration of this pandemic and its impact on full year results.

However, the company said its business is fully operational, and are confident that Alliance Data will manage through this crisis effectively.

we are working closely with our partners across all of our businesses to optimize their budgets, adjust marketing support accordingly and accommodate the rapid shift to ecommerce in light of temporary retail-based store closings resulting from COVID-19."

Its Board of Directors also declared a quarterly cash dividend of $0.21 per share on the company's common stock, payable on June 18, 2020 to stockholders of record at the close of business on May 14, 2020.