Covanta holding says withdrawing 2020 guidance in light of macroeconomic uncertainties due to pandemic

Covanta holding corporation provides business and capital allocation update.covanta holding corp - all facilities currently operating with minimal disruption, providing essential service.covanta holding corp - established new and expanded protocols to minimize health risks and protect employees.covanta holding corp - initiating $15 to $30 million cost reduction program in anticipation of potential impacts.covanta holding corp - revising dividend payment to $0.32 per share annualized, retaining $90 million annually.covanta holding corp - resilient balance sheet with no near-term maturities and ample liquidity.covanta holding corp - withdrawing 2020 guidance in light of macroeconomic uncertainties due to pandemic.covanta holding corp - enacting a hiring freeze for new corporate employees.covanta holding corp - lowering compensation through a 50% reduction in ceo wages, a 25% reduction in executive leadership wages.covanta holding corp - a 20% reduction in wages for all corporate support employees through a combination of wage reductions and furloughs.covanta holding corp - lowering board of directors fees by 60% during same time period as management salary reductions and furloughs.covanta holding - growth investment for 2020 is expected to be focused primarily on uk projects and start-up of our first total ash processing system.
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