February 7, 2020 / 12:59 PM / 2 months ago

Boeing supplier Spirit cuts dividend due to 737 MAX crisis

Feb 7 (Reuters) - Spirit AeroSystems Inc, Boeing Co’s largest supplier, said on Friday it would slash its quarterly dividend to just 1 cent per share as it grapples with the grounding of the planemaker’s 737 MAX jets.

“The Company’s Board will consider further action with respect to the dividend in the future, upon the MAX’s return to service and further production stabilization,” Chief Executive Officer Tom Gentile said in a statement.

Spirit last paid a dividend of 12 cents per share. (Reporting by Ankit Ajmera in Bengaluru)

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