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April 9, 2020, 2:35 a.m. EDT

Suez to reduce dividend

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By Olivia Bugault

Suez SA said late Wednesday that it is reducing its 2019 dividend proposal, while its chief executive and executive committee members will donate part of their pay to support coronavirus causes.

Suez will propose a dividend of 45 European cents ($0.49) a share during its annual general meeting in May, compared with a previous proposal of EUR0.65 a share, the French water-and-waste management company said.

Furthermore, its CEO and members of the executive committee have decided to donate 25% of their salaries during the lockdown, Suez said. "The donations will be provided via the Suez Foundation to the Institut Pasteur and to Unicef to finance research and provide support of health-care workers during the crisis," Suez said.

The company also said that all employees that have continued to work on the ground in France to ensure the continuity of the business will receive a bonus of EUR1,000.

Write to Olivia Bugault at olivia.bugault@wsj.com

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