By Giulia Petroni

OMV AG said Tuesday that it cut its dividend proposal to 1.75 euros ($2.06) a share from EUR2 a share for 2019 due to the effects of the coronavirus pandemic.

The Austrian oil-and-gas company said the executive board decided to keep the dividend in line with the current policy for fiscal year 2019 and leave it at the previous year's level.

The proposal will be presented at the annual general meeting on Sept. 29.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

July 28, 2020 08:06 ET (12:06 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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