{"id":50930,"date":"2023-08-20T23:52:15","date_gmt":"2023-08-21T03:52:15","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/iress-shares-plummet-after-tech-provider-suspends-dividend-lowers-outlook\/"},"modified":"2023-08-20T23:52:17","modified_gmt":"2023-08-21T03:52:17","slug":"iress-shares-plummet-after-tech-provider-suspends-dividend-lowers-outlook","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=50930","title":{"rendered":"Iress Shares Plummet After Tech Provider Suspends Dividend, Lowers Outlook"},"content":{"rendered":"
\n

By Stuart Condie<\/p>\n

<\/pre>\n
SYDNEY–Iress shares are on course for their largest ever daily loss after the Australian technology provider suspended its dividend and lowered its annual earnings guidance.<\/p>\n
The stock was down 20% at 7.95 Australian dollars (US$5.09) early Monday after Iress said it would prioritize debt reduction against a backdrop of elevated costs from its so-called transformation project.<\/p>\n
\n
Iress said it plans to review all aspects of capital management, including debt, dividends and product investment.<\/p>\n
Shares were down as much as 33% earlier. Their record loss to date is 17% in September 2022, according to FactSet data.<\/p>\n
Iress’s first-half result was weaker than expected and its full-year earnings guidance 19% weaker at the range mid-point than previously forecast, E&P Financial analyst Oliver Coulon said.<\/p>\n
“Suspension of the dividend was a concern the market had but will not be taken well in conjunction with the downgrade to FY23 expectations today,” Coulon said in a note.<\/p>\n
<\/pre>\n
Write to Stuart Condie at stuart.condie@wsj.com<\/p>\n
<\/pre>\n<\/p><\/div>\n<\/div>\n
Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
By Stuart Condie SYDNEY–Iress shares are on course for their largest ever daily loss after the Australian technology provider suspended its dividend and lowered its annual earnings guidance. The stock was down 20% at 7.95 Australian dollars (US$5.09) early Monday after Iress said it would prioritize debt reduction against a backdrop of elevated costs from […]<\/p>\n","protected":false},"author":1,"featured_media":1898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-50930","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nIress Shares Plummet After Tech Provider Suspends Dividend, Lowers Outlook | iFintechWorld<\/title>\n<meta name=\"description\" content=\"By Stuart Condie SYDNEY--Iress shares are on course for their largest ever daily loss after the Australian technology provider suspended its dividend and\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=50930\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Iress Shares Plummet After Tech Provider Suspends Dividend, Lowers Outlook | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"By Stuart Condie SYDNEY--Iress shares are on course for their largest ever daily loss after the Australian technology provider suspended its dividend and\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=50930\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-21T03:52:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-21T03:52:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/mw_logo_social.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=50930#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=50930\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Iress Shares Plummet After Tech Provider Suspends Dividend, Lowers Outlook\",\"datePublished\":\"2023-08-21T03:52:15+00:00\",\"dateModified\":\"2023-08-21T03:52:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=50930\"},\"wordCount\":176,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=50930#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=50930\",\"url\":\"https:\/\/ifintechworld.com\/?p=50930\",\"name\":\"Iress Shares Plummet After Tech Provider Suspends Dividend, Lowers Outlook | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-08-21T03:52:15+00:00\",\"dateModified\":\"2023-08-21T03:52:17+00:00\",\"description\":\"By Stuart Condie SYDNEY--Iress shares are on course for their largest ever daily loss after the Australian technology provider suspended its dividend and\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=50930#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=50930\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=50930#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Iress Shares Plummet After Tech Provider Suspends Dividend, Lowers Outlook\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Iress Shares Plummet After Tech Provider Suspends Dividend, Lowers Outlook | iFintechWorld","description":"By Stuart Condie SYDNEY--Iress shares are on course for their largest ever daily loss after the Australian technology provider suspended its dividend and","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=50930","og_locale":"en_US","og_type":"article","og_title":"Iress Shares Plummet After Tech Provider Suspends Dividend, Lowers Outlook | iFintechWorld","og_description":"By Stuart Condie SYDNEY--Iress shares are on course for their largest ever daily loss after the Australian technology provider suspended its dividend and","og_url":"https:\/\/ifintechworld.com\/?p=50930","og_site_name":"iFintechWorld","article_published_time":"2023-08-21T03:52:15+00:00","article_modified_time":"2023-08-21T03:52:17+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/mw_logo_social.png","type":"image\/png"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=50930#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=50930"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Iress Shares Plummet After Tech Provider Suspends Dividend, Lowers Outlook","datePublished":"2023-08-21T03:52:15+00:00","dateModified":"2023-08-21T03:52:17+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=50930"},"wordCount":176,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=50930#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=50930","url":"https:\/\/ifintechworld.com\/?p=50930","name":"Iress Shares Plummet After Tech Provider Suspends Dividend, Lowers Outlook | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-08-21T03:52:15+00:00","dateModified":"2023-08-21T03:52:17+00:00","description":"By Stuart Condie SYDNEY--Iress shares are on course for their largest ever daily loss after the Australian technology provider suspended its dividend and","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=50930#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=50930"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=50930#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Iress Shares Plummet After Tech Provider Suspends Dividend, Lowers Outlook"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/50930","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=50930"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/50930\/revisions"}],"predecessor-version":[{"id":50931,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/50930\/revisions\/50931"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/1898"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}