Chorus Aviation suspends dividends and strengthens balance sheet

Given the uncertainty related to the duration and impact of the COVID-19 pandemic, Chorus is suspending its dividend following payment of the previously declared dividend payable on April 17, the company said in a statement. After payment of the March 2020 Dividend, no further dividends will be paid until further notice and the dividend reinvestment program (‘DRIP’) will also be suspended. The suspension of the dividend will preserve significant cash to strengthen the company’s balance sheet through this crisis it said. In addition, Chorus has executed a letter of offer with Export Development Canada to provide an unsecured US$100 million