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4/7, 10:14 AM (Source: TeleTrader)
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Cineworld closes cinemas, suspends dividends

British cinema operator Cineworld said on Tuesday it has decided to shut down all of its 787 cinemas worldwide while announcing the suspension of the Q4 2019 dividend amid ongoing coronavirus pandemic.

In addition, the world's second largest cinema operator said it plans to cancel an upcoming 2020 quarterly dividends, as it holds talks with the cinema landlords, film studious and suppliers in order to find the solution in overcoming the current COVID-19 crisis.

At the same time, the company's executive directors announced they voluntarily agreed to postpone the payment of their salaries and bonuses as their contribution to the current situation the company got into.

Breaking the News / BJ