Porsche SE Slashes Dividend Proposal Due to Coronavirus
July 30 2020 - 3:51AM
Dow Jones News
By Mauro Orru
Porsche Automobil Holding SE said Thursday that it has cut its
dividend proposal to account for the impact of the coronavirus
pandemic.
Porsche, which holds about 53% of Volkswagen's voting rights,
said it would propose a dividend of 2.21 euros ($2.61) per
preference share and EUR2.204 per ordinary share at its annual
general meeting, which is postponed to Oct. 2.
The company planned to propose a dividend of EUR3.11 per
preference share and of EUR3.104 per ordinary share.
Porsche SE's decision comes after Volkswagen AG's left its own
dividend proposal at the level of last year.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
July 30, 2020 04:36 ET (08:36 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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