(CercleFinance.com) – Bayer AG announces this evening that it intends to modify its dividend policy for the next three years.
Faced with a high level of debt, the pharmaceutical group decided to review its capital allocation priorities. Consequently, the payment of a dividend of 0.11 euros per share for 2023 will be proposed to shareholders at the General Meeting of April 26, 2024.
In addition to its debt level, Bayer cites high interest rates and a difficult free cash flow situation.
The objective of the new operating model is to make the company ‘much more agile and significantly improve its operational performance’, says Bayer, who also plans ‘significant job cuts’
‘All of these measures are necessary to position the company for future success. We are confident that our approach to debt reduction will benefit all stakeholders in the long term,’ says Bill Anderson, Managing Director.
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