May 14, 2020 / 5:24 AM / 3 months ago

Clariant sticks to extra payout, to scrub regular dividend in crisis

ZURICH, May 14 (Reuters) - Clariant is sticking to its plan to pay $1 billion to shareholders from proceeds of asset sales, if they go through, while withholding a regular dividend this year amid the coronavirus crisis, the Swiss chemicals maker said on Thursday.

"To protect the long-term interest of the company and its shareholders, the Board of Directors proposes to withhold the distribution of the regular dividend," the company said, adding it would pay out an extraordinary dividend next year, if financial conditions allow, to compensate for scrubbing the payment this year. (Reporting by John Miller Editing by Riham Alkousaa)

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