The Board of Directors of fca has decided to propose to the shareholders' meeting, scheduled for April 16, the distribution of a ordinary dividend equal to 70 cents, up on the previous year's 65 cents. This was communicated by Fiat Chrysler in a note, specifying that the total dividend would thus reach 1,1 billion euros.
The news helped propel it the stock on the FCA stock exchange, which gains 531% in the middle of the day, to 11,858 euros, achieving the best performance of the Ftse Mib. In the same minutes, the main price list of Piazza Affari travels up by 0,7%, hitting the first rebound after two nightmare sessions.
FCA shares also benefit from better-than-expected accounts released on Wednesday from betrothed Psa. The French car manufacturer closes 2019 with a consolidated net profit of 3,584 billion euros, up by 289 million compared to 2018. The net profit attributable to shareholders rose instead by 374 million, to 3,201 billion euros, while revenues amounted to 74,731 billion euros, up 1%. On the profitability side, the adjusted operating margin reached 8,5%, up by 0,8 basis points compared to 2018.
As for the dividend, the PSA Board will propose to the meeting a coupon of € 1,23 per share.
“We submitted 14 out of 24 applications to the authorities to get the green light for the merger with FCA – he said Carlos Tavares, chairman of the management board of PSA - For the moment no response. It is a very long process, which will last a total of 12-14 months. We don't think there will be any problems."
And again: “Restructuring costs will not increase in 2021 because two companies that are in good health will merge. It is not a crisis merger, there will be no restructuring costs. If things change, we will adapt but I don't see the need for a refurbishment. There is quite an impatience for the new project”.
(Last update: 14.30 pm on 26 February).
