December 10, 2018 / 1:05 PM / 2 years ago

Voestalpine CEO hints at lower dividend for 2018/19

VIENNA, Dec 10 (Reuters) - Austria’s specialty steelmaker Voestalpine may pay a lower dividend for its 2018/19 business year than the year before as declining demand from the car industry will weigh on full-year profit, its chief executive said on Monday.

The company warned in October that its 2018/19 operating profit (EBIT) will come in just under 1 billion euros ($1.14 billion) instead of reaching last year’s 1.18 billion euros as initially targeted.

“Common sense should tell you that the dividend could decline slightly if there is a slight downturn,” Wolfgang Eder told journalists in Vienna.

He said the payments of the last two years of 1.10 euros per share and 1.40 euros per share could provide “a reasonable frame”.

However, neither the management board nor the supervisory board discussed the 2018/19 dividend yet because they wanted to see third-quarter results first, Eder said. ($1 = 0.8790 euros) (Reporting by Kirsti Knolle, editing by Riham Alkousaa)

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