Covestro proposes a dividend of EUR 1.20 per share for fiscal 2019
At its meeting today, the Board of Management of Covestro AG has decided to propose a dividend of EUR 1.20 per share for the 2019 fiscal year to the Annual General Meeting and to carry the remainder of the distributable profit forward to new account.
The Annual General Meeting is scheduled to take place as a virtual event on July 30, 2020.
The Board of Management had previously proposed a dividend of EUR 2.40 per share to the Annual General Meeting that was originally planned in Bonn, Germany, on April 17, 2020. The Board of Management currently focuses on securing the company's liquidity and credit rating. As a result of the global coronavirus pandemic, the Board of Management expects significantly lower earnings in fiscal 2020, as detailed in the Q1 2020 interim statement. Despite the economically challenging times, Covestro continues to allow its shareholders to participate in the success of the company. Based on yesterday's Xetra closing price of the Covestro share of EUR 30.49, this dividend proposal equals a dividend yield of 3.9%.