Danone to Place Greater Focus on ESG Goals; Backs 2019 Dividend
May 20 2020 - 2:51AM
Dow Jones News
By Cristina Roca
Danone SA said Wednesday that it will place greater focus on its
ESG goals, and confirmed its 2019 dividend despite the coronavirus
pandemic.
The French food-and-drink company is adopting the French
"Entreprise a Mission" legal framework, and setting up an
independent committee to oversee and report on its progress on its
environmental, social and societal goals.
"This move [responds to] a wake up call from a crisis that we
believe is going to be long," Danone Chairman and Chief Executive
Emmanuel Faber said in a call with media.
The adoption of the framework will be proposed at Danone's AGM,
which was scheduled for June 26.
Danone confirmed that it will propose a dividend of 2.10 euros
($2.30) a share. Despite the coronavirus crisis which has led many
companies to cut or scrap their dividends for the year, Danone said
it wanted to reward its shareholders.
Mr. Faber will take a 30% cut to his fixed pay for the rest of
2020 starting on July 1. Danone's board of directors will give up
their entire pay for the second half of 2020 and will allocate it
to Danone's employee health-coverage program.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
May 20, 2020 02:36 ET (06:36 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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