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.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.