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Millennium & Copthorne cuts dividend to fund improvements

Millennium & Copthorne cuts dividend to fund improvements

Ever since a takeover bid from its largest shareholder, City Developments, fell through, management at Millennium & Copthorne Hotels (MLC) has been under pressure to improve the performance of the hotel group. As such, the full-year dividend has been cut so that money can be directed towards maintenance and improvement work to keep the business "relevant and competitive”.

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