Earnings

Renault shares pop as carmaker plans dividend hike

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Renault CEO: EV pricing is challenging, but industry must 'fight' for the technology

Shares of Renault climbed on Thursday after the French carmaker said it would propose raising its dividend per share to 1.85 euros ($1.99) for the financial year, up from 0.25 euros previously.

Paris-listed shares provisionally closed 6.5% higher.

The company on Wednesday reported a full-year group operating margin of 7.9%, which comes in towards the top end of its prior guidance. The automaker reiterated its target of double-digit margins by 2030.

Group revenue rose 13% to 52.4 billion euros, while net profit was slightly below forecasts, Reuters reported.

The automaker is targeting a group operating margin at or above 7.5% and free cash flow of at least 2.5 billion euros in 2024, down from…



Source cnbc.com

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