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Continental Proposes To Suspend FY Dividend

German automotive supplier and tire manufacturer Continental AG (CTTAY.PK) said that its executive board has decided to propose a suspension of the dividend for fiscal 2020 to the Annual Shareholder Meeting on April 29, 2021, due to the preparation of the annual financial statements for 2020 and the resulting negative net income attributable to the shareholders of the parent.

The company said it remains committed to its targeted mid-term dividend payout ratio of 15 to 30 percent of the net income attributable to the shareholders of the parent.

The meeting for the adoption of the financial statements for fiscal 2020 by the Supervisory Board is planned in March 2021.

The company said it will release preliminary financial result for fiscal year 2020 on March 9, 2021.

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