K+N’s release was mixed. Seafreight stood at a good level, while the demand in airfreight continued to slump, notably in key European industries and the perishables business. While the FCF jumped 140% to CHF1.1bn, management slashed the dividend by 33% to CHF4.0 per share. An acquisition in Asia seems to be pending. K+N’s shares may continue to be affected by the Coronavirus outbreak.
27 Feb 2020
Dividend slashed despite a huge FCF
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Dividend slashed despite a huge FCF
Kuehne & Nagel International AG (0QMW:LON) | 0 0 0.5% | Mkt Cap: 19,620m
- Published:
27 Feb 2020 -
Author:
Luis Pereira -
Pages:
2
K+N’s release was mixed. Seafreight stood at a good level, while the demand in airfreight continued to slump, notably in key European industries and the perishables business. While the FCF jumped 140% to CHF1.1bn, management slashed the dividend by 33% to CHF4.0 per share. An acquisition in Asia seems to be pending. K+N’s shares may continue to be affected by the Coronavirus outbreak.