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VW Shareholders Approve Reduced Dividend
As expected, Volkswagen AG shareholders overwhelmingly approved a sharply reduced dividend payment of €0.11 (13 cents) on ordinary shares and €0.17 (19 cents) on preferred shares.
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As expected, Volkswagen AG shareholders overwhelmingly approved a sharply reduced dividend payment of €0.11 (13 cents) on ordinary shares and €0.17 (19 cents) on preferred shares.
The resulting payout will cost VW about €68 million ($77 million). Last year the company paid €4.80 and €4.86 on the two types of shares.
Last week Porsche Automobil Holding SE, which owns 52% of VW’s voting shares, signaled it might block even the reduced dividends to save cash for liabilities associated with the carmaker’s diesel emission cheating scandal. But it quickly retreated. VW says the payments were approved by a 94% majority.
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