Lagardère: cancels dividend, creates solidarity fund
(CercleFinance.com) - Lagardère says that its management has decided, in agreement with the supervisory board, to modify the proposal for appropriation of its 2019 income submitted to the AGM of 5 May in order not to distribute any dividend.
It has also decided to create a "Covid solidarity fund," endowed with five million euros taken from the cash that was initially allocated to this dividend payment, in order to support initiatives in favour of employees and partners suffering from the effects of this crisis.
These measures add to the actions implemented by Lagardère from the start of the crisis to mitigate its financial impact and encourage the restart of its operations as soon as conditions permit.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
It has also decided to create a "Covid solidarity fund," endowed with five million euros taken from the cash that was initially allocated to this dividend payment, in order to support initiatives in favour of employees and partners suffering from the effects of this crisis.
These measures add to the actions implemented by Lagardère from the start of the crisis to mitigate its financial impact and encourage the restart of its operations as soon as conditions permit.
Copyright (c) 2020 CercleFinance.com. All rights reserved.