SHARES in pub chain Marston's jumped 43.5 per cent yesterday as it outlined its coronavirus battle plan, which included cutting a £20m dividend.

The company said that the need for social distancing as a measure to combat the spread of the virus means it is "unlikely" that it will confirm an interim dividend in May.

Sales were down one per cent in the 24 weeks to 14 March, however the chain warned that new recommendations to avoid pubs and clubs would have an impact on trading going forward.

Marston's said it has reduced its capital expenditure "for the foreseeable future" and it is working to reduce overhead costs.

The operator added it will suspend tenants' rent on a "case by case basis, where it is appropriate to do so".

The government on Tuesday said it will help firms to weather the storm with a £330bn package, including loans and a business rates holiday.

(c) 2020 City A.M., source Newspaper