STUTTGART, Germany: Daimler on Tuesday cut its dividend to 0.90 euros a share after 2019 earnings more than halved, weighed down by restructuring and legal charges in what amounts to the third profit warning for new CEO Ola Kaellenius.
Daimler said its net profit fell to 2.7 billion euros, down from 7.6 billion euros in the year earlier, despite record deliveries of Mercedes cars that saw the brand retain its title as the world's top-selling premium automaker.The Stuttgart-based carmaker said it would seek to cut administrative and personnel costs by more than 1.4 billion euros by the end of 2022 to help offset expenses from legal proceedings related to diesel pollution and investments into new technologies.
The German carmaker cut its dividend proposal to 0.90 euros a share, down from 3.25 euros a share in 2018. Net profit fell to 2.7 billion euros, down from 7.6 billion euros in the year-earlier period and earnings before interest and taxes dropped to 4.3 billion euros, from 11.1 billion in 2018.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NetLink NBN Trust posts 9.6% rise in Q3 net profit of S$21.5mNetLink NBN Trust posts 9.6% rise in Q3 net profit of S$21.5m.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Retailer 3 Stars asked to explain high prices for masks following public complaints: MTISINGAPORE: A letter of demand has been sent to retailer 3 Stars after complaints from the public of masks being sold at high prices at its ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Police issue warning as fights break out between PMD riders and pedestrians after footpath banSINGAPORE - The police on Monday (Feb 10) warned pedestrians and personal mobility device (PMD) riders to 'keep the peace and refrain from confrontations', citing a case where a rider used his belt buckle to hit a 72-year-old man last November.. Read more at straitstimes.com. it's just a terrible implementation of a law that's hard to enforce that cause this confusion & disputes. LTA's major policy failure & mistakes on PMDs over the last fefw years have created a large group of anarchists and lawless hoodlums who are now a serious threat to the law abiding citizens in Singapore, young and old. They're more dangerous than the coronavirus
Source: The Straits Times - 🏆 8. / 63 Read more »
Countries widen travel warning to include SingaporeSeveral countries are taking precautionary measures after Singapore raised its alert status to orange last week amid a rising number of coronavirus cases in the country.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Singapore O&G and Katrina Group warn of FY19 lossesRead more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
UK warns of post-Brexit controls on EU tradeUK warns of post-Brexit controls on EU trade
Source: BusinessTimes - 🏆 15. / 51 Read more »