Porsche SE said on Thursday that it sought to bolster its net liquidity to between minus EUR 6.1 billion and EUR 5.6 billion by the end of 2023 after it acquired an equity stake in Porsche AG last year.
Porsche said it had proposed a dividend of EUR 2.56 per preference share and EUR 2.554 per common share.
“It is important to us that this proposed dividend finds a balance between a stable dividend and the steady reduction of our debt,” Porsche’s Chairman Hans Dieter Poetsch said in a statement.
The shares of Porsche AG (P911) were last losing 1.47% (EUR 1.70) on Thursday to trade at EUR 113.70 on Xetra, while snapping a two-day streak of gains. Yesterday the shares climbed as high as EUR 117.70 to mark their highest price level since March 9th.
The auto maker’s total market cap now stands at EUR 104.31 billion.
The shares of Porsche AG have risen 37.82% since opening at EUR 82.50 in late September 2022.