Plus   Neg

Volkswagen Confirms Outlook For Positive Operating Result For 2020 - Quick Facts

The Volkswagen Group (VKW.L,VLKAF.PK,VOW.BE) reported that worldwide deliveries in the first eight months were down by 21.5 percent to 5.6 million vehicles. The Group expects incoming orders and deliveries in September to be up year-on-year, and expects that the upward trend will continue for the remainder of the year. Volkswagen confirmed its goal to remain profitable in the sum of all parts of the Group and to report a positive operating result in 2020.

Group CEO Herbert Diess said at the virtual AGM: "The transformation of the Group is not being held back by corona, but accelerated by it."

The Board proposed to the AGM the distribution of a dividend of 4.80 euros per ordinary share and 4.86 euros per preferred share. This amends the proposed dividend previously announced for 2019, which had originally been 6.50 euros per ordinary share and 6.56 euros per preferred share. The company noted that the remaining net retained profits of 855 million euros will be carried forward to next year's accounts.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The European Union and Britain have cleared Boeing's 737 Max for return to service in their respective regions after being grounded for nearly two years. The EU's air safety watchdog European Union Aviation Safety Agency or EASA in a statement said the agency has approved the return to service of a modified version of the Boeing 737 MAX. The UK Civil Aviation Authority or CAA also lifted the ban. Euromarket Designs, Inc., doing business as CB2, has recalled Junction tall chests and low dressers citing tip-over and entrapment hazards to children, according to the U.S. Consumer Product Safety Commission. The Chicago, Illinois - based company has called back about 11,000 units sold in the United States and about 355 units sold in Canada. Samsung Electronics Co Ltd (SMSN.L, SSNNF.OB, SSNLF.OB) reported a profit for the fourth-quarter that increased 23.3 percent from last year, led by display and memory chip businesses.Quarterly revenue grew 2.8 percent from the prior year. The company expects overall profit to weaken in the first quarter of 2021.
Follow RTT