Continental: tyres go flat as group abandons 2020 dividend
(CercleFinance.com) - Continental announced on Friday evening that its Management Board has decided not to propose a dividend for 2020 at the group's next AGM, due to the losses it expects to make over the year.
In a statement, the German automotive supplier nevertheless reiterated its intention to pay out between 15% and 30% of its net profit to its shareholders in dividends over the medium term.
Conti plans to present its annual results on 9 March, with its next AGM scheduled for 29 April.
The share was down about 2.5% in Frankfurt on Monday morning, making it the second biggest faller in the DAX index.
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In a statement, the German automotive supplier nevertheless reiterated its intention to pay out between 15% and 30% of its net profit to its shareholders in dividends over the medium term.
Conti plans to present its annual results on 9 March, with its next AGM scheduled for 29 April.
The share was down about 2.5% in Frankfurt on Monday morning, making it the second biggest faller in the DAX index.
Copyright (c) 2021 CercleFinance.com. All rights reserved.