Orange Slashes Dividend Proposal
April 17 2020 - 1:16AM
Dow Jones News
By Mauro Orru
Orange said Friday that its board of directors would propose a
reduced dividend at the annual general meeting on May 19, which
will be held behind closed doors due to the coronavirus
pandemic.
The French telecommunications company said the board would
propose a dividend of 50 European cents (54 cents) a share, down
from EUR0.70 a share as previously expected.
Orange said the reduction in the proposed dividend implied the
EUR0.40 balance to be paid June 4 would be slashed to EUR0.20.
The company added it would review its goal to distribute a
dividend of EUR0.70 per share between 2020 and 2023 at a later
stage.
"Based on currently available information, Orange does not
expect a significant deviation from its 2020 objectives, but we are
closely monitoring the situation and its developments," said
Stephane Richard, chairman and chief executive.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
April 17, 2020 02:01 ET (06:01 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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