By Andreas Wiseman International Editor As it faces up to the huge coronavirus challenge, exhibition giant Cineworld has suspended payment of its 2019 fourth quarter dividend of 4.25c per share and upcoming 2020 quarterly dividends in a bid to “conserve cash wherever possible”.
The Regal-owner announced also today that executive directors have voluntarily agreed to defer payment of their salaries and bonuses.
Non-executive directors will defer their fees. The group’s entire estate of 787 cinemas in ten countries has been closed as a result of COVID-19, a situation the company admitted seemed “impossible to imagine a few months ago”.
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