No dividend for VW scandal ?: Volkswagen shareholders could get nothing – Tagesspiegel

The VW shareholders to fear a total failure in the dividend the face of threats billion in penalties exhaust scandal. It stands not yet been finalized, “but there is no indication that there is only hope for a penny,” said a board member of the German Press Agency. Analysts had expected last still on average at just 1.50 euros per share. A VW Group spokesman said on request only: “We will comment on April 28 as part of our annual press conference on details of our financial results.”

For 2014, the Group paid for each Volkswagen ordinary share 4.80 euros, for each preferred share 4.86 euros as dividends. Overall, the carmaker showered last around EUR 2.3 billion of its profits to shareholders. The largest shareholder is the Porsche SE, which is controlled by the Porsche and Piëch families. Also, the state of Lower Saxony and the State Fund of Qatar hold large blocks of shares.

The second largest VW shareholder Lower looks with concern but no panic on a possible failure in the dividend of the car manufacturer. “There would be no direct impact on the state budget”, said the State Chancellery on request. A year ago, Niedersachsen had pocketed 285 million euros dividend.

The state-owned investment company HanBG in which the majority of the VW-ownership is that dividends parked last. Therefore, preparing a dividend failure, possibly even a total failure, the country no headaches. Already adopted projects were “fully funded,” for the following years by the previous dividend payments.

The decisive factor the amount of punishment will be

is likely to be decisive, the amount of the penalties, the VW due to exhaust -Skandals in the US will have to make. “Probably would be a value between 20 and closer to 30 billion euros. And then it will be very tight for the dividend, “said a VW board. The group would need a lot of money in this case, to pay the penalties and the current fiscal to fund further

In the Supervisory Board could be argued about the amount of the dividend entirely. Employee representatives and the state should primarily obtaining jobs at VW in view have – the representatives of the capital side might a stronger interest in return and thus have on the distribution of a dividend. Spokesmen for both sides declined to comment to on request. (AP)