Texas Roadhouse Inc. (TXRH) said Wednesday that Chief Executive W. Kent Taylor has agreed to forgo his base salary and bonus from the pay period starting March 18 through Jan. 7, 2021, with the money to be used to pay front-line workers. In a filing with the Securities and Exchange Commission, the steak house chain said it is also suspending its dividend as it moves to conserve cash during the coronavirus pandemic. Shares were not yet active premarket, but have fallen 25% in the last 12 months, while the S&P 500 has fallen 13%.
-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
March 25, 2020 17:13 ET (21:13 GMT)
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