Hermes Cuts Dividends, Pledges to Keep Salary Levels
March 31 2020 - 2:01AM
Dow Jones News
By Pietro Lombardi
Hermes International SCA cut its dividends and said it would
maintain the basic salary of its 15,500 employees world-wide
without additional support provided by governments.
The French luxury-goods company said Monday that it wants to cut
dividend to 4.55 euros a share ($5.03) from EUR5, thus keeping the
dividend flat compared with last year.
The pay of its executive chairmen will also remain at last
year's level.
The company will donate EUR20 million to public hospitals in the
Paris region, which comes on top of other support offered amid the
coronavirus pandemic, it said.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
March 31, 2020 01:46 ET (05:46 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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