Kontoor Brands suspends dividend payments for the time being

Kontoor Brands has been affected by Covid-19 quite badly causing significant impact on Q1 2020 revenue and profit. Kontoor Brands has suspended payment of a quarterly dividend on a temporary basis in conjunction with the amended credit facility. The payment of a dividend has been a foundational element of the Kontoor investment thesis and Total Shareholder Return (TSR) model, and the Company’s Board of Directors is committed to re-establishing a dividend as soon as appropriate