Argos owner in 'brutal' payout cut

AOL Money Staff
Argos
Argos

The owner of catalogue retailer Argos has pulled the plug on its shareholder dividend after revealing a 60% plunge in annual profits.

Home Retail Group's decision to cut the payout - described as "pretty brutal" by one City analyst - triggered a further 12% slump in shares of the beleaguered retail chain, which also owns Homebase.