By Pietro Lombardi

Hermes International SCA cut its dividends and said it would maintain the basic salary of its 15,500 employees world-wide without additional support provided by governments.

The French luxury-goods company said Monday that it wants to cut dividend to 4.55 euros a share ($5.03) from EUR5, thus keeping the dividend flat compared with last year.

The pay of its executive chairmen will also remain at last year's level.

The company will donate EUR20 million to public hospitals in the Paris region, which comes on top of other support offered amid the coronavirus pandemic, it said.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

March 31, 2020 01:46 ET (05:46 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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