• Cuts dividend to legal minimum for 3 years.
  • This saves ~€2.25bn / year vs ~€38bn net debt at 3Q23. FY23 EBITDA estimated at €10.6bn.
  • Should reduce leverage by ~0.7x over the period (using static EBITDA) vs an unchanged dividend.

HEALTHCARE: Bayer: Dividend Cut

Last updated at:Feb-19 16:44By: Donal Golden
  • Cuts dividend to legal minimum for 3 years.
  • This saves ~€2.25bn / year vs ~€38bn net debt at 3Q23. FY23 EBITDA estimated at €10.6bn.
  • Should reduce leverage by ~0.7x over the period (using static EBITDA) vs an unchanged dividend.

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