Posted 2/19/2024, 9:22:35 PM
Bayer Slashes Dividend 95% to Tackle Debt and Roundup Lawsuit Costs
- Bayer plans to cut its dividend by 95% to just €0.11 per share, the legal minimum under German law
- The move aims to help Bayer reduce its massive €38.7 billion debt pile and manage growing legal costs from Roundup lawsuits
- Bayer faces thousands of lawsuits claiming Roundup caused cancer, which it denies
- The dividend cut will save Bayer about €2.3 billion per year over the next 3 years
- Bayer is also facing expiring patents on key drugs, slowing agriculture sales, and may struggle to grow through the 2020s