At the Annual Shareholders’ Meeting of Moët Hennessy Louis Vuitton (LVMH) held on June 30, approval was given for the payment of a dividend for financial year 2019 of 4.80 Euros per share ($4.83 USD).
The dividend is a 20% reduction from what was initially expected, reflecting LVMH’s 15% drop in sales during the first quarter. The company reports that the decline is a result of the COVID-19 pandemic.
“Expect a slow recovery from the pandemic in 2020,” said Bernard Arnault, chairman and CEO of LVMH.
