VW achieved the envisaged revenue and profit increase last year. However, we had expected higher operating and net earnings, whereas our dividend projection was slightly lower. Management proposes a dividend for preferred shares of €6.56, whereas our number was €5.96. Based on the last closing price of €148.60 (28 February 2020), this translates into a yield of 4.4%.
01 Mar 2020
Lower than expected 2019 earnings but higher dividend
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Lower than expected 2019 earnings but higher dividend
VW achieved the envisaged revenue and profit increase last year. However, we had expected higher operating and net earnings, whereas our dividend projection was slightly lower. Management proposes a dividend for preferred shares of €6.56, whereas our number was €5.96. Based on the last closing price of €148.60 (28 February 2020), this translates into a yield of 4.4%.