Swatch reduces its dividend following the coronavirus

The board of directors of the Swatch group will propose, at the next general meeting, the reduction of the dividend by 30%.

Directors’ remuneration will also be cut by 30% in order to preserve the company’s liquidity in a context marked by the spread of the coronavirus, announced Friday the world number one in watchmaking.

The bearer share dividend will thus be reduced to 5.50 francs instead of the 8 francs previously offered and that of the registered share will correspond to 1.10 francs instead of 1.60 francs, according to the press release.

The general meeting will be held on May 14 in the physical presence of the shareholders.

/ ATS

–
– .