MUNICH, Germany (CelebrityAccess) — The management board of German live entertainment and ticketing company CTS Eventim on Wednesday announced that in a bid to shore up their financial position during the COVID-19 pandemic, the company ask shareholders to suspend dividend payments for 2019.
Instead, per the proposal, the net profit from 2019 will be placed in a new account to strengthen the German promoter’s liquidity and “improve the company’s financial flexibility” as it weathers the ongoing financial crisis inflicted by coronavirus.
CTS Eventim booked €132 million euros in net profit attributable to shareholders over the course of fiscal year 2019, representing earnings per share of €1.23.
As well, in compliance with the rules of the newly-passed German Stock Corporation Act, CTS Eventim’s Annual General Meeting will be conducted on June 19th without shareholders in physical attendance.
