Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Fiat Chrysler Automobiles N.V.    FCA   NL0010877643

FIAT CHRYSLER AUTOMOBILES N.V.

(FCA)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

Fiat Chrysler, Peugeot Scrap Billion-Dollar Dividends as Merger Faces Pressure -- Update

share with twitter share with LinkedIn share with facebook
05/14/2020 | 06:18am EDT

By Ben Dummett

Fiat Chrysler Automobiles NV and Peugeot maker PSA Group canceled dividend payments they promised their shareholders that were part of a broader agreement to merge, but said the deal remains on track.

Both companies had previously warned their annual dividends for 2019 were under review amid an industrywide scramble to raise and save cash to weather the coronavirus pandemic. The planned dividend, amounting to EUR1.1 billion ($1.2 billion) for each company, was an important component in the merger deal.

In a release issued late Wednesday night, Fiat and Peugeot said they remained on track to complete the planned multibillion-dollar tie-up before the end of March 2021. Merger preparations "are advancing well, including with respect to antitrust and other regulatory filings," the car makers said in a joint statement.

Still, the dividend cancellation highlights the pressure both companies are under to push the complex deal through amid tumult in the global car industry and the world's stock markets. The pact, agreed to late last year, was structured mostly as a stock swap. But it also included two sets of cash payouts designed, in part, to equalize valuations between the two companies and achieve a so-called merger of equals.

The deal is a bet that a combination would give the two greater financial heft and broader geographic reach to better equip them to manage the high costs of investing in autonomous and electric vehicles. Executives at both companies think that strategic rationale is even stronger amid the pandemic, people familiar with the matter have said.

Fiat Chrysler is still on the hook to distribute a separate EUR5.5 billion dividend to its shareholders as part of the merger deal.

Fiat Chrysler shares were down 1.7% in Europe trading, while Peugeot shares were 3.4% lower.

Write to Ben Dummett at ben.dummett@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. 3.91% 6.64 Delayed Quote.20.73%
EURO / US DOLLAR (EUR/USD) 0.05% 1.1248 Delayed Quote.0.23%
FIAT CHRYSLER AUTOMOBILES N.V. -1.10% 8.9 Delayed Quote.-32.55%
JUST GROUP PLC -4.49% 48.9 Delayed Quote.-38.10%
PEUGEOT -2.29% 14.29 Real-time Quote.-32.91%
THE GLOBAL LTD. 0.97% 209 End-of-day quote.-55.63%
THE NEW HOME COMPANY INC. 0.63% 3.2 Delayed Quote.-31.33%
WILL GROUP, INC. 0.32% 636 End-of-day quote.-49.20%
WORLD CO., LTD. -1.19% 1496 End-of-day quote.-44.41%
share with twitter share with LinkedIn share with facebook
Latest news on FIAT CHRYSLER AUTOMOBILES
07/03FIAT CHRYSLER AUTOMOBILES N : Dodge Introduces 'Demon-possessed' 2021 Dodge Char..
AQ
07/03CAT OUT OF HELL : Dodge//SRT Introduces the Most Powerful SUV Ever - 2021 Durang..
AQ
07/03FIAT CHRYSLER AUTOMOBILES N : 2020 Challenger SRT Super Stock Is the Newest Dodg..
AQ
07/03Fiat, PSA stick to merger deal after dividend cut report
RE
07/03GLOBAL MARKETS LIVE: Fiat Chrysler, Regeneron, Uber…
07/03FIAT CHRYSLER AUTOMOBILES N : Rejects Reports It Is Changing EUR5.5 Billion Divi..
DJ
07/02Car Sales Fall Despite Discounts, Deals -- WSJ
DJ
07/01Automakers laud U.S. consumer 'resilience' despite COVID-19 hit to sales
RE
07/01Automakers laud U.S. consumer 'resilience' despite COVID-19 hit to sales
RE
07/01Italy new car sales fall 23% in June
RE
More news
Financials
Sales 2020 86 245 M 97 009 M 97 009 M
Net income 2020 -1 354 M -1 524 M -1 524 M
Net Debt 2020 1 333 M 1 499 M 1 499 M
P/E ratio 2020 -10,5x
Yield 2020 -
Capitalization 13 957 M 15 691 M 15 699 M
EV / Sales 2019
EV / Sales 2020 0,18x
Nbr of Employees 191 752
Free-Float 53,8%
Chart FIAT CHRYSLER AUTOMOBILES N.V.
Duration : Period :
Fiat Chrysler Automobiles N.V. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FIAT CHRYSLER AUTOMOBILES
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 10,15 €
Last Close Price 8,90 €
Spread / Highest target 215%
Spread / Average Target 14,1%
Spread / Lowest Target -48,8%
EPS Revisions
Managers
NameTitle
Michael Mark Manley President, Chief Executive Officer & Director
John Jacob Philip Elkann Chairman
Richard Keith Palmer Chief Financial Officer & Executive Director
Harald J. Wester Chief Technology Officer
Andrea Agnelli Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
FIAT CHRYSLER AUTOMOBILES N.V.-32.55%15 691
FERRARI N.V.4.00%31 806
SAIC MOTOR CORPORATION LIMITED-21.80%30 836
BYD COMPANY LIMITED74.77%28 377
MARUTI SUZUKI INDIA LTD-19.49%24 009
EXOR N.V.-26.46%13 228