Stellantis Board Proposes Dividend Of €1.55 Per Common Share, Increase Of ~16% Compared To Prior Year, Pending Shareholder Approval
Portfolio Pulse from Benzinga Newsdesk
Stellantis proposes a dividend increase of approximately 16% to €1.55 per common share, pending shareholder approval. The dividend schedule for NYSE, Euronext Milan, and Euronext Paris includes an ex-date of April 22, 2024, a record date of April 23, 2024, and a payment date of May 3, 2024. Additionally, Stellantis plans a 2024 open-market share buyback program worth €3.0 billion, including €0.5 billion for share-based compensation and employee share purchases.
February 15, 2024 | 6:56 am
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Stellantis proposes a 16% dividend increase to €1.55 per share and a €3.0 billion share buyback program for 2024, including €0.5 billion for share-based compensation.
The proposed dividend increase and the share buyback program are positive signals to the market, indicating Stellantis's confidence in its financial health and commitment to returning value to shareholders. The dividend increase is substantial and the share buyback program is significant in size, which could lead to a positive short-term impact on the stock price as it reflects the company's strong cash position and shareholder-friendly policies.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100