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Evonik Proposes Dividend Of EUR 1.15; Confirms FY Adj. EBITDA Outlook

Specialty chemicals company Evonik Industries AG (EVK.DE) said it is proposing a total dividend of 1.15 per share euros, including the advance payment already made.

Christian Kullmann, Chairman of the executive board of the company, said that the company confirmed adjusted EBITDA outlook for fiscal year 2020 in a range of 1.7 billion euros - 2.1 billion euros.

Kullmann noted that the company noticed weaker demand from the automotive industry. This has affected its polyurethane foams for car seats, silica for the tire industry, and high-performance polymers. The company expects to see a slow, step-by-step recovery here in the second half of the year.

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