AA’s Push Toward Millennials Leads to Stock Breakdown

Breakdown firm cuts payout to fund investment in technology
Stock drops as much as 30 percent, most since AA’s 2014 IPO

Traffic travels along the A13 dual carriageway as the City of London financial district stands on the skyline beyond in London, U.K., on Monday, April 10, 2017.Photographer: Chris Ratcliffe/Bloomberg

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By Joe Easton and Lukanyo Mnyanda

February 21, 2018 at 9:10 AM UTC

Updated on

February 21, 2018 at 11:07 AM UTC

This article is for subscribers only.

The U.K.’s best-known provider of car-breakdown cover is itself becoming a little accident-prone.

AA Plc shares plunged the most on record on Wednesday after the 113-year-old roadside recovery and insurance firm said plans to generate growth among younger drivers would come at the expense of profit and dividend payouts.