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Forums >> iiNet >> Cineworld bosses defer pay after all cinemas close

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User: 46838 - 27 posts

posted 08:04PM
Tue 7th Apr 2020
Cineworld bosses have deferred their pay packets for the past year after the company was forced to shut its entire portfolio of 787 cinemas.

The world’s second largest cinema operator said it is also suspending payment of its proposed dividend for the fourth quarter, as it looks to mitigate the impact of the coronavirus outbreak.

It said the Government-mandated closure of cinemas has been “extremely challenging”.

Cineworld said it has put on hold the payment of a 4.25 cents per share dividend payout for the final quarter of 2019 and upcoming 2020 quarterly dividends.
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