CEOs Ditching Dividends Should Consider Their Pay, Investors Say
- Group including BlackRock warns firms to justify dividend cuts
- Body that represents $9.5 trillion writes to big U.K. firms
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Company chiefs halting dividends to cope with coronavirus chaos and cutting salaries for rank-and-file staff should think about making sacrifices themselves, according to Britain’s biggest money managers.
The U.K. Investment Association, whose members run more than 7.7 trillion pounds ($9.5 trillion), told the country’s 350 biggest publicly traded firms that bosses’ compensation should reflect any cuts made to shareholder returns.