default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

L'Oréal Cancels 10.4% Dividend Increase

The beauty group will instead stick to the same payout per share it made in 2019.
L'Oréal offices | Source: Courtesy
By
  • Reuters

CLICHY, France — Cosmetics group L'Oréal said on Tuesday its board had decided to give up on a planned 10.4 percent dividend increase due to the coronavirus crisis and stick instead to the same payout per share of €3.80 it made in 2019.

The beauty group's revenues fell 4.8 percent on a comparable basis in the first quarter after widespread store closures linked to the outbreak, but it has so far remained optimistic about a consumer rebound later this year, led by China.

L'Oréal said it would also renounce any share buyback programmes in 2020, and that Chief Executive Jean-Paul Agon's would give up some of variable pay.

By Sarah White.

In This Article
Topics
Organisations

© 2022 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Beauty
Insight into the fast-evolving beauty business and lessons for the future of fashion.

Christina Aguilera is the co-founder and chief brand advisor of Playground, a line that specialises in sexual wellness – a space that’s emerging as the next frontier for celebrity branding.




view more

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
The Complete Guide to Managing Markdowns
© 2023 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy and Accessibility Statement.
The Complete Guide to Managing Markdowns