Sydney Airport Limited (ASX:SYD) updated the market about its liquidity, dividend distribution and traffic update. Key snippet are as follows:
- To further strengthening SYD’s balance sheet, the Company secures $850 million of additional bank debt facilities.
- Due to COVID-19, SYD declares that it will not pay its half year dividend.
- Sydney Airport implemented measures to strictly reduce operating cost, such as reducing CEO’s fixed remuneration and directors’ fees by 20 percent.
- Due to tightening of travel restrictions, there has been substantial impact on traffic performance for March.
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