(Boursier.com) — Renault camped at 50 euros this Thursday, still close to its stock market peaks since the end of 2019. Among the latest broker opinions, Morgan Stanley ‘overweights’ the value with a target which goes from 44 to 59 euros. Barclays had previously raised its recommendation on the car manufacturer to ‘overweight’ while increasing its target to 60 euros. The British bank sees revaluation potential due to momentum, free cash flow and dividend… The analyst says that although the stock has already gained almost 30% over the past month, it was starting from ‘a very low level and therefore considers the company still cheap and attractive. It also sees good potential for earnings growth beyond 2024, both in absolute and relative terms compared to its peers. In short, Renault is back on the map for automotive investors!
The Renault SA Combined General Meeting will be held on Thursday, May 16 at 3 p.m., at La Seine Musicale, in Boulogne-Billancourt. The prior notice convening the General Meeting was published in the Bulletin des Annonces Légales et Obligatoires. These notices can be consulted in the section dedicated to the General Meeting on the car manufacturer’s website. All up-to-date information regarding the agenda, draft resolutions, as well as the terms of participation and voting at the Meeting appear in the notice of meeting.
Dividend support
Renault’s Board of Directors has decided to propose the payment of a dividend of 1.85 euros to shareholders. The overall amount of the dividend, which would be distributed for the financial year ending December 31, 2023, is 537,235,863.40 euros based on a number of 295,722,284 shares making up the share capital as of December 31, 2023, after deduction of the 5,324,520 treasury shares held on this date. The dividend of 1.85 euros per share (before social security contributions and compulsory non-dischargeable flat-rate withholding tax).
The dividend ex-date is set for May 22 for payment on May 24.
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