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Orange Says Doesn't Expect Deviation From 2020 Objectives; Cuts Dividend

Orange said it does not expect a significant deviation from its 2020 objectives, but it is closely monitoring the situation and its developments, amid the Covid-19 pandemic.

Orange confirmed that its Annual General Meeting will be held on 19 May and adapts its dividend policy.

Orange's board has proposed a decrease in the 2019 dividend to 0.50 euros per share from 0.70 euros per share, citing the uncertainty caused by the coronavirus crisis. It means that the 0.40-euros balance, which remains to be paid, will be reduced to 0.20 euros. The payment date remains unchanged at 4 June 2020.

The company said it will review the objective for 2020-2023 to distribute a dividend of 0.70 euros per share at a later date in light of the evolving situation.

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