WH Smith Under FCA Probe and Dividend Cut Weighs on Stock

about 1 month ago

Louise Moon

"So, WHM have confirmed this morning that they're under investigation by the FCA. So, that's obviously the financial regulator um here in London. They had a probe that um that Deote uh implemented in November and found a lack of oversight for Joe B. Smith which led to the CEO resigning. The stock has slumped and, well year to date, they're down over about 40% with added losses today, possibly heading for its worst year on record."

WH Smith is under FCA investigation amid an accounting-era probe and has cut dividends for the first time since the pandemic, with its stock down over 40% year-to-date. These developments raise significant concerns about the company's credibility and outlook.

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