Renault Shares Jump 6% as Automaker Announces Significant Dividend Increase

Renault Shares Jump 6% as Automaker Announces Significant Dividend Increase

Renault shares rose 6 after the French automaker announced plans to significantly increase its dividend per share to $1.99 from 27 cents previously. The company reported a full-year operating margin of 7.9, towards the top end of its prior guidance. Revenue increased 13 to $56.4 billion, while net profit was slightly below analyst forecasts. Renault is targeting an operating margin of at least 7.5 and a free cash flow of over $2.69 billion in 2024. The company will focus on 10 upcoming vehicle launches, optimizing costs and accelerating its EV and software strategy.


User: Benzinga

Views: 368

Uploaded: 2024-02-16

Duration: 00:44

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