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Thai companies cut dividends to save cash in pandemic

Central Retail and Minor International ask shareholders to skip payouts

BANGKOK -- Thailand's major companies are playing it safe, socking cash away instead of paying big dividends to shareholders in the first half of 2020, as they brace for more financial turbulence from the novel coronavirus pandemic.

Central Pattana, a mall developer and a part of retail conglomerate Central Group, received approval from shareholders on July 10 to cut its interim dividend to 0.8 baht per share from an initially planned 1.3 baht per share. The resolution will save Central Pattana 2.2 billion baht ($69 million) on payouts.

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