WASHINGTON (dpa-AFX) - While reporting its financial results for the first quarter on Friday, VF Corp. (VFC) said that it is not possible to provide a financial outlook for full-year fiscal 2021 at this time due to the uncertainty of the duration and severity of COVID-19.
However, the company forecast second-quarter revenues to be down less than 25 percent from the year-ago period. On average, Analysts polled by Thomson Reuters expect the company to report revenues of $2.52 billion for the quarter, down 25.7 percent from the year-ago quarter. Analysts' estimates typically exclude special items.
Full-year fiscal 2021 free cash flow is still expected by the company to exceed $600 million.
VF Corp.'s board of directors declared a quarterly dividend of $0.48 per share, payable on September 21, 2020, to shareholders of record on September 10, 2020.
Subject to approval by its board of directors, the company intends to continue to pay its regularly scheduled dividend and is not currently contemplating the suspension of its dividend.
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