French carmaker Renault announced a dividend for the first time in four years, flagging improving margins and earnings as well as a full order book as its ongoing revamp starts to bear fruit.
The company proposed a dividend of 0.25 euros per share - the first since a more than 3 euros per share payout in 2019 - to be approved at the annual general meeting on May 11.
The carmaker, which had returned to profit in 2021 after two years in the red, said net income without the disposal of its former Russian unit Avtovaz rose by 1.1 billion euros from 2021 to 1.6 billion euros.to the Russian state last year, reportedly for only one rouble but with a six-year option to buy it back.Renault shares turned negative after touching a three-year high in early trade but remain about 34% up this year.
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