Novartis AG Says Shareholders Approve Dividend Increase To CHF 3.30 (+3.1%) Per Share For 2023; Representing A 3.7% Yield And ~58% Payout Of Free Cash Flow
Portfolio Pulse from Benzinga Newsdesk
Novartis AG announced that its shareholders have approved a dividend increase to CHF 3.30 per share for 2023, which is a 3.1% increase from the previous year. This dividend represents a 3.7% yield and approximately 58% of the company's free cash flow, according to Reuters.
March 05, 2024 | 2:23 pm
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POSITIVE IMPACT
Novartis AG's shareholders approved a dividend increase to CHF 3.30 per share for 2023, indicating a 3.1% increase from the previous year, with a 3.7% yield and about 58% payout of free cash flow.
The approval of a dividend increase is generally viewed positively by the market as it signals confidence in the company's financial health and future prospects. The specific figures provided, such as the 3.1% increase, 3.7% yield, and 58% payout ratio, further underscore the company's strong cash flow position and commitment to returning value to shareholders. This news is likely to have a positive short-term impact on Novartis AG's stock price as it may attract dividend investors and boost shareholder confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100