Molson Coors Suspends Dividend for 2020

Although beer consumption is up during the pandemic, Molson Coors (NYSE: TAP) announced it was furloughing some employees and suspending its dividend for the rest of 2020 to save money.

The brewer, which recently shifted its focus away from beer and toward a broader range of beverages, also said it will cut its capital expenditures by $200 million, reduce marketing expenses, limit the number of new hires it makes, and also explore bailout programs that might be available from European governments.

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Source Fool.com