International Airlines rescinds proposed EUR 0.17 dividend

International Airlines Group (IAG) has announced its EUR 0.17 per share proposed dividend has been cancelled due to the coronavirus pandemic, the company said.

The company´s chief financial officer said all profit for the financial year would now be allocated to the voluntary reserve in order to protect the liquidity of the company.

At the same time, the IAG board has resolved to delay the date of such annual shareholders´ meeting, originally scheduled for June, until the end of September.

IAG-owned British Airways is expected to furlough as many as 36,000 staff later, having drastically cut services during April and May.