Flight Centre (ASX:FLT) cancels $40.1 million dividend payment

Company News

by Rachael Jones

Flight Centre (ASX:FLT) announced today that to lower costs from the coronavirus impact - their senior leadership team will take a 50 per cent salary cut.

They are also continuing with the plan to close 100 leisure shops throughout the country with inevitable job losses throughout the country.

Today, they also announced that will cancel the $40.1 million interim dividend payment that was due to be paid to shareholders next month, a strategy to maintain liquidity and protect long-term shareholder value.

Shares in Flight Centre (ASX:FLT) are suspended from Official Quotation - Last traded at $9.91.