| Dividends are drying up as companies decide to conserve cash due to the uncertainty created by the Covid-19 virus. ADvTECH has deferred its decision on a final dividend for 2019 and a number of property groups are also postponing any payouts to ensure liquidity due to the rapidly evolving situation. With a three-week lockdown looming, banks have also started to come to the fore. Standard Bank is easing the pressure on small businesses and students to repay their loans until the end of June. Nedbank has invited customers to come forward if they needed to defer debt repayments or extend existing loans, while FNB says it is looking at a number of solutions to support customers. No doubt Absa, Capitec and Investec are too. Food producers and grocery retailers may be amongst the companies to benefit from the pandemic. Rhodes Food Group says it can increase production to meet growing demand. And it has enough raw material stock to last three to four months on imported materials if international supply chains get disrupted as a result of the virus. Already it's seen a rise in demand for tinned meat and vegetables and baby foods as customers stockpile essential items. Meanwhile, the JSE shed 5% yesterday, giving up most of Friday's short-lived recovery. Top trader and strategist Andrew Kinsey say that the intensity and speed with which the equities meltdown has unfolded has shocked even the most bearish of traders and investors in financial markets. His latest analysis examines the interplay between fixed income and equities. Is there light at the end of this dark tunnel? Follow this link to find out. These are very uncertain times. I hope you stay safe. Stephen Gunnion Managing Editor, InceConnect
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