Volkswagen shareholders pay dividends
2022.12.16 04:56
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Volkswagen shareholders pay dividends
Budrigannews.com – On Friday, Volkswagen shareholders gathered in Berlin to vote on whether to distribute a special dividend of 20.28 euros ($19.06) per share from the proceeds of Porsche AG’s listing.
If shareholders vote in favor, as is widely anticipated, a total of 9.6 billion euros, or 49 percent of the proceeds from the listing, will be distributed in January.
Oliver Blume, CEO, stated in the opening speech that the Volkswagen (ETR:) With his first hundred days spent reorganizing senior roles, defining the automaker’s strategy for China and North America, and revising its software and platform strategy, Group was on solid ground.
Blume mentioned the need for diversification in light of geopolitical tensions, stating, “We are working on a globally balanced presence – in Europe, China, and a strong third leg of North America.”
Blume stated that a decision regarding the location of a planned battery plant in Eastern Europe, which was anticipated this year but was postponed last week, would be made “soon.”
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Chief Financial Officer Arno Antlitz stated in a speech that was made public before the meeting that the rise in Porsche AG’s stock market valuation since the listing demonstrated the luxury carmaker’s value, but that Volkswagen’s potential must now also be demonstrated to markets.
“It was important to make Porsche’s true value clear. However, this has also made it abundantly clear that Volkswagen’s current valuation is unbalanced. We intend to alter that.”
Volkswagen investor DWS, which holds around 2% of the carmaker’s stock, as per Eikon information, highlighted the administration issues they and different financial backers featured in front of the posting, including Oliver Blume’s double job as CEO of Porsche AG and Volkswagen, as variables hauling down the carmaker’s valuation.
Since opening at 82.50 on September 29, Porsche shares have increased 18.5 percent to 97.74 euros per share, while Volkswagen shares have increased 3.9% to 133.56 euros.
