Texas Roadhouse CEO Kent Taylor has chosen forego his salary and bonus pay period through the end of 2020 in order to support employees furloughed due to the COVID-19 pandemic, according to MarketWatch.com.
According to a filing with the Securities and Exchange Commission, the chain's board of directors also voted Tuesday to suspend the payment of quarterly cash dividends of the company's common stock.
The board said the filings were made to "better manage its cash position and enhance financial flexibility in light of the uncertainty in the global markets resulting from the COVID-19 outbreak."
In 2018, Taylor's salary was $1.3 million, according to Lousiana Business First.
This story was originally published by KXXV in Waco, Texas.