Annual dividend scrapped by International Airlines Group

Thursday, April 2, 2020

International Airlines Group announced the scrapping of a planned dividend for shareholders in the wake of the coronavirus pandemic.

Previously a final dividend of 0.17 euros per share was proposed and Stephen Gunning, chief financial officer for the company mentioned that  profit for the financial year would now be allocated to the voluntary reserve in order to protect the liquidity of the company.

The IAG board has resolved to delay the date of such annual shareholders’ meeting, originally scheduled for June, until the end of September.

As many as 36,000 staff will be furlough by the IAG-owned British Airways. It has cut services during April and May.

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