Casino Group announces that it will not pay an interim dividend in 2019
Paris, May 28th 2019
Casino Group takes note of Standard & Poor's' decision to lower the Group's financial rating, following the entry into safeguard proceedings of Rallye.
Standard & Poor's downgraded the Group's rating by two notches from BB- to B and placed the rating on negative watch.
This change in rating has no impact on the availability or cost of the Group's existing financial resources.
Casino Group reaffirms all its financial objectives, and in particular:
- Free cash-flow in France before dividends and financial expenses of at least €0.5 billion
- Growth in trading profit for the retail business in France of at least 10%
- A disposal plan of at least €2.5 billion by the first quarter of 2020
The Group confirms the priority given to pursuing its debt reduction strategy and, in this context, the Board of Directors, which met today, decided not to pay an interim dividend in 2019.
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