Feb 14, 2020
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Okey Koeln Renault cuts dividend, slices profit goal for 2020

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FILE PHOTO: A Renault Clio E-Tech Hybrid car is seen at Brussels Motor Show, Belgium, January 9, 2020. REUTERS/Francois Lenoir/File PhotoPARIS (Reuters) – French carmaker Renault (RENA.PA) warned that auto demand remained volatile, cut its dividend for 2019 and set a lower operating margin goal for 2020, a crunch year in which it wants to…

Okey Koeln FILE PHOTO: A Renault Clio E-Tech Hybrid automobile is considered at Brussels Motor Display cloak, Belgium, January 9, 2020. REUTERS/Francois Lenoir/File PhotoPARIS (Reuters) – French carmaker Renault (RENA.PA) warned that auto seek data from remained volatile, carve its dividend for 2019 and characteristic a decrease operating margin aim for 2020, a crunch twelve months in which it wants to reboot its partnership with Japan’s Nissan (7201.T). The firm posted an annual profit lack of 141 million euros ($153 million) – its first in 10 years – for the community share of glean earnings, penalized by costs linked to a couple its Chinese language joint ventures and as Nissan’s contribution shrank. It characteristic an operating margin target for this twelve months of between 3% and 4%, down from 4.8% in 2019. The firm acknowledged it proposed paying a dividend of 1.10 euro per share in opposition to 2019 outcomes, down from 3.55 euros for 2018. Reporting by Gilles Guillaume and Sarah White; Enhancing by Tom Hogue
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