October 30, 2018 / 12:49 PM / a month ago

Fiat Chrysler to pay 2 bln euros in special dividends after Magneti sale

MILAN, Oct 30 (Reuters) - Fiat Chrysler (FCA) reported better-than-expected third-quarter earnings and promised to pay 2 billion euros ($2.27 billion) in extraordinary dividends using proceeds from the Magneti Marelli sale, pushing shares up more than 1 percent.

FCA last week agreed a deal to sell parts unit Magneti Marelli to Japan’s Calsonic Kansei for 6.2 billion euros.

The world’s seventh-largest carmaker said on Tuesday adjusted earnings before interest and tax (EBIT) for the July-September period rose 13 percent to 1.995 billion euros, compared with 1.87 billion euros in a Reuters poll of analysts.

Sales rose 9 percent to 28.77 billion euros, above expectations.

FCA confirmed its operating guidance for the full year. However, its forecast for net cash was reduced to between 1.5-2.0 billion euros from around 3 billion euros.

$1 = 0.8808 euros Reporting by Agnieszka Flak; editing by Stephen Jewkes

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