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rdf:type	schema:NewsArticle
schema:articleBody	Telecommunications group Orange said Friday it was maintaining its financial outlook for 2020 but reducing dividend payments for 2019 given the uncertainty linked to the coronavirus outbreak. "Taking into account the uncertainty caused by this exceptional crisis, the Board of Directors has proposed a decrease in the 2019 dividend from 0.70 euro to 0.50 euro per share," said the major operator of mobile and internet services in Europe and Africa. Many firms are reducing their disbursements of profits to shareholders to hold on to cash and ensure their operations are not at risk in case of a payments or credit crunch. "Our decision to reduce the dividend was taken solely out of an abundance of caution in a situation where uncertainty and volatility are considerable," said Chief Financial Officer Ramon Fernandez in a conference call. Orange CEO Stephane Richard said the firm doesn't expect performance to be much different from its targets. "The important role played by the telecoms sector during this crisis to ensure the continued functioning of our economy and society as a whole confirms the strategic character of our activities," he said in a statement. For 2020, the company expects its measure of operating profit to be stable or higher than the 12.9 billion euros ($14 billion) recorded last year. Positive cash flow is expected to remain above 2.3 billion euros. Orange recorded a net profit of 3 billion euros last year on 42 billion euros in revenue. vac/rl/bp
schema:headline	Orange squeezes 2019 dividend, confirms 2020 outlook
schema:mentions	Variance Dividend Orange S.A. Chief financial officer Ramon Fernandez Africa European Union Severe acute respiratory syndrome coronavirus 2 Credit crunch Cash flow Microsoft Outlook
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-04-17 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	73 (xsd:integer)

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