FDJ cuts shareholder dividend by 30%

FDJ cuts shareholder dividend by 30%

French lottery operator sees group revenues fall during the first quarter of the year due to Coronavirus.

France.- French lottery operator Francaise des Jeux (FDJ) will cut its shareholder dividend after reporting a drop in first quarter revenues due to the Coronavrius outbreak.

FDJ was listed on the stock market by the government last year.

FDJ said it would cut its dividend by 30 per cent from the initial planned amount, resulting in a dividend payout of €0.45 per share.

The decision comes after overall group revenues fell 1 per cent year on year to €511.2million.

According to the news agency Reuters, FDJ added it had already started looking at cost-cutting plans aimed at saving more than €80million.

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