Michelin: decides to reduce dividend
(CercleFinance.com) - Michelin Group will hold its Combined General Meeting at 9 am on 23 June 2020, exceptionally in private and without the physical presence of its shareholders.
However, shareholders will be able to follow the meeting, which will be transmitted by visio-conference. They will be strongly encouraged to vote remotely ahead of the meeting.
The group has decided to reduce the proposed dividend for FY 2019 to 2 euros, against 3.85 euros announced initially, with a payment on 3 July 2020.
"Since the beginning of the crisis, the Group has taken all of the initiatives required to attenuate as much as possible the negative impact of the crisis on segment operating income and free cash flow. The Group has the financing sources and mechanisms in place to deal with the uncertainty surrounding the crisis," it said.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
However, shareholders will be able to follow the meeting, which will be transmitted by visio-conference. They will be strongly encouraged to vote remotely ahead of the meeting.
The group has decided to reduce the proposed dividend for FY 2019 to 2 euros, against 3.85 euros announced initially, with a payment on 3 July 2020.
"Since the beginning of the crisis, the Group has taken all of the initiatives required to attenuate as much as possible the negative impact of the crisis on segment operating income and free cash flow. The Group has the financing sources and mechanisms in place to deal with the uncertainty surrounding the crisis," it said.
Copyright (c) 2020 CercleFinance.com. All rights reserved.