Cineworld scraps dividend and defers executive salaries as entire estate closes

posted in: All News | 0

The company has net debts of US$3.5bn and is in talks over its liquidity requirements.

Cineworld PLC has scrapped its dividends for the remainder of 2020 to save cash while directors have deferred their salaries, bonuses during the coronavirus crisis.

All 787 cinemas owned by the group in ten countries are closed due to the impact of coronavirus and the group warned last month it might be forced to shut down.

 

Source: https://www.proactiveinvestors.co.uk/companies/