Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Porsche SE says it raised voting rights share in VW

Published 03/19/2019, 05:23 AM
Updated 03/19/2019, 05:25 AM
© Reuters. FILE PHOTO: Poetsch, chairman of the Volkswagen's supervisory board, speaks during the Volkswagen Group's annual general meeting in Berlin

Stuttgart (Reuters) - Porsche SE, the holding company controlling Germany's Volkswagen (DE:VOWG_p), on Tuesday said it raised its voting rights share in the carmaker to 53.1 percent from 52.2 percent.

"We continue to believe that Volkswagen group has a significant potential to increase its value and that its current capital market valuation does not reflect this," Porsche SE's CEO Hans Dieter Poetsch, who is also the chairman of VW's supervisory board, said.

He added that Porsche SE would increase its dividend by 26 percent, to 2.21 euros ($2.51) per share and that the company expected a net income of 3.4 to 4.4 billion euros in 2019.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.