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Texas Roadhouse CEO forgoes salary to help hourly employees during COVID-19 outbreak

CEO Kent Taylor will forgo his base salary and incentive bonus through January 2021.

LOUISVILLE, Ky. — Texas Roadhouse CEO W. Kent Taylor will forgo his salary to assist hourly restaurant employees as restaurants across the country take a hit during the coronavirus outbreak.

The decision, listed in the company's March 25 SEC filing, said Taylor will forgo his base salary and incentive bonus from March 18 through Jan. 7, 2021. The money will be made available for front-line hourly restaurant employees.

Also in the filing, Texas Roadhouse's Board of Directors voted to cut its dividend, meaning they will suspend the payment of dividends to the company's stock, to better manage money as global markets respond to COVID-19.

The company, headquartered in Louisville, is open for to-go and curbside services. Some restaurants have also created temporary drive-thrus and are offering family value packs in areas where the coronavirus outbreak has halted in-person dining.

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