MUNICH (dpa-AFX) - The agricultural trader and conglomerate Baywa does not intend to pay its shareholders a dividend for the past year. The SDax-listed company announced in Munich on Thursday evening that while the operating business had been satisfactory, interest and taxes had had a significant negative impact on consolidated earnings. The Management Board has therefore decided to propose to the Annual General Meeting that the dividend payment be suspended. This is intended to strengthen the Group's equity base. After the meeting, the share price fell by five percent compared to the Xetra close.

Baywa had paid a regular dividend of €1.10 and a special dividend of 10 cents per share for 2022. Baywa plans to publish its financial figures for 2023 as planned on March 28 /stw/jha/.