May 19, 2020 / 5:26 AM / 17 days ago

BRIEF-Melia Hotels Cancels Dividend Distribution Proposal Due To COVID-19 Impact

May 19 (Reuters) - Melia Hotels International:

* SAID ON MONDAY BOARD AGREES TO CANCEL THE PROPOSAL FOR THE DISTRIBUTION OF DIVIDENDS ON ACCOUNT OF VOLUNTARY RESERVES DUE TO COVID-19 IMPACT

* BOARD HAS DECIDED TO DEFINITIVELY SUSPEND THE BUYBACK PROGRAM AND, THEREFORE, TO TERMINATE IT EARLIER

* CEO HAS DECIDED TO REDUCE HIS FIXED SALARY IN 50% AND HIS VARIABLE REMUNERATION SCHEME HAS BEEN TEMPORARILY SUSPENDED

Source text for Eikon:

Further company coverage: (Gdansk Newsroom)

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