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Voestalpine CEO hints at lower dividend for 2018-19

Steel News - Published on Tue, 11 Dec 2018

Image Source: Forbes
Reuters reported that Austria’s specialty steelmaker Voestalpine may pay a lower dividend for its 2018/19 business year than the year before as declining demand from the car industry will weigh on full-year profit. CEO Mr Wolfgang Eder told journalists in Vienna “Common sense should tell you that the dividend could decline slightly if there is a slight downturn. The payments of the last two years of 1.10 euros per share and 1.40 euros per share could provide a reasonable frame.

The company warned in October that its 2018/19 operating profit (EBIT) will come in just under EUR 1 billion instead of reaching last year’s EUR 1.18 billion as initially targeted.

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Posted By : Sanju Moirangthem on Tue, 11 Dec 2018
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