World News

Nestle confirms 2019 dividend proposal

ZURICH (Reuters) – Nestle <NESN.S> on Friday confirmed its 2019 dividend proposal of 2.70 Swiss francs per share even as the pandemic caused by the new coronavirus upends planned shareholder payouts.

“We confirm our dividend proposal to the coming annual general meeting. We believe strongly in being dependable, especially in this period of uncertainty,” a spokesman for the world’s biggest food group said. “Nestle has always maintained a strong balance sheet and we are not facing any liquidity issue.”

(Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields)