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

FIAT CHRYSLER AUTOMOBILES N.V.

(FCA)
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Fiat Chrysler to Cut Dividend Ahead of Merger With PSA Group

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09/14/2020 | 06:26pm EDT

By Eric Sylvers and Ben Dummett

Fiat Chrysler Automobiles NV and PSA Group changed the terms of their merger to preserve cash as the two car makers shore up their financial positions following the negative effects of the coronavirus pandemic.

Fiat Chrysler will now pay a dividend of EUR2.9 billion to its shareholders ahead of the closing of the merger, down from the previously agreed EUR5.5 billion, the companies said in a joint statement Monday.

PSA, which owns the Peugeot and Citroën brands, agreed to scrap an agreement to spin off its 46% stake in auto parts maker Faurecia SE ahead of the closing. Instead, the stake of publicly traded Faurecia, which is worth about EUR2.7 billion, will be spun off following the closing.

The companies said they are still on track to complete the deal by the end of March.

The cut to the cash portion of the dividend comes after Fiat Chrysler, like most of its peers, reported a second-quarter loss as coronavirus lockdowns halted production and led to a drop in sales. While Fiat Chrysler has abundant liquidity, in the second quarter it burned much more cash than it had coming in.

Write to Eric Sylvers at eric.sylvers@wsj.com and Ben Dummett at ben.dummett@wsj.com

 


Stocks mentioned in the article
ChangeLast1st jan.
FAURECIA SE 2.55% 32.54 Real-time Quote.-33.94%
FIAT CHRYSLER AUTOMOBILES N.V. -0.21% 10.542 Delayed Quote.-19.93%
PEUGEOT SA 0.82% 15.43 Real-time Quote.-28.15%
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Financials
Sales 2020 86 344 M 101 B 101 B
Net income 2020 -697 M -812 M -812 M
Net cash 2020 1 367 M 1 593 M 1 593 M
P/E ratio 2020 -17,1x
Yield 2020 -
Capitalization 16 629 M 19 391 M 19 377 M
EV / Sales 2020 0,18x
EV / Sales 2021 0,14x
Nbr of Employees 191 752
Free-Float 53,6%
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Technical analysis trends FIAT CHRYSLER AUTOMOBILES N.V.
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 13,50 €
Last Close Price 10,56 €
Spread / Highest target 175%
Spread / Average Target 27,8%
Spread / Lowest Target -33,7%
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
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