Jeep, Dodge maker Stellantis posts record annual profit, announces $4.47 billion shareholder payout
Publishing timestamp: 2023-02-22 08:27:47
Summary
Stellantis, a Dutch-headquartered carmaker formed in 2021 from the merger of Fiat Chrysler and PSA Group, reported record full-year results with a 26% rise in net profit to 16.8 billion euros ($17.9 billion) and 41% annual jump in global battery and electric vehicle sales. The company also announced a 4.2 billion euro dividend payout to shareholders and a share buyback of 1.5 billion euros to be executed by the end of 2023. Eligible U.S. workers represented by the United Auto Workers union will receive profit-sharing payouts of $14,760. Stellantis shares nudged 1.6% higher during early trade in Europe.
Sentiment: POSITIVE
Keywords: business news, earnings, stellantis nv, autos,