(RTTNews) - PUMA SE (PMMAF.PK) said its Management Board has decided to propose to the AGM the suspension of the dividend payment for fiscal 2019. Due to Sars-CoV-2, the Annual General Meeting on May 7, 2020 will be held as a digital meeting only.
PUMA SE noted that, apart from China, Japan and South Korea, almost all of the company's own stores as well as those of PUMA's partners have been temporarily closed by the authorities.
PUMA is reducing costs and cash outflow wherever possible as well as securing additional financing. The company believes suspending dividend payments as well as suspending the Management Board's salary 100% and reducing that of senior management by 25% are the right measures.
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