IHG cancels dividend and cuts executive pay

IHG cancels dividend and cuts executive pay

InterContinental Hotels Group (IHG) will save around $150m (£126m) by scrapping its 85.9¢ final dividend as it battles a collapse in demand for hotel rooms following the outbreak of coronavirus. It stands to save as much as $150m more through cost-cutting measures that include “substantial decreases” in executive salaries and incentives.

Join our community of smart investors

Subscribe today and enjoy unlimited access:

  • Comprehensive companies coverage
  • Actionable commentary, ideas and portfolios
  • Tools and data to help you manage and track investments.
  • Help managing your portfolio 
Explore subscription options
Subscribe to Investors Chronicle

Related topics

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now