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Casino Group: Casino Group announces that it will not pay an interim dividend in 2019


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.


ANALYST AND INVESTOR CONTACTS
Régine Gaggioli – +33 (0)1 53 65 64 17
rgaggioli@groupe-casino.fr
or

+33 (0)1 53 65 24 17
IR_Casino@groupe-casino.fr

 PRESS CONTACTS
Casino Group – Direction of Communication
Stéphanie ABADIE - sabadie@groupe-casino.fr - +33 (0)6 26 27 37 05

or

+33(0)1 53 65 24 78 - directiondelacommunication@groupe-casino.fr

Agence IMAGE 7
Karine ALLOUIS  -  +33(0)1 53 70 74 84 - kallouis@image7.fr
Grégoire LUCAS - gregoire.lucas@image7.fr

Disclaimer

This press release was prepared solely for information purposes, and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments. Likewise, it does not provide and should not be treated as providing investment advice. It has no connection with the specific investment objectives, financial situation or needs of any receiver. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. It should not be regarded by recipients as a substitute for the exercise of their own judgement. All the opinions expressed herein are subject to change without notice.


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