The austerity measures at the world’s largest chemical company are also affecting shareholders. Annual profit distributions will probably no longer be as generous.
The chemical company BASF will probably not be able to pay as much dividend as in previous years. The direct profit participation should be at least 2.25 euros per share in the coming years, the Dax group in Ludwigshafen announced. BASF had paid 3.40 euros per share for 2023. The announced minimum dividend is well below the expectations of experts.
The annual dividend amount in the coming years will be around two billion euros, it said. Between 2025 and 2028, a total of around eight billion will be distributed in dividends. This will be supplemented by share buybacks. These are planned for 2027 at the latest and are expected to amount to around four billion euros.
BASF is suffering from cost pressure and high energy prices. As a result, the DAX-listed company launched another billion-dollar savings program in February, including job cuts and the closure of plants. In particular, the main plant in Ludwigshafen, the group’s largest production site, is to be restructured to increase profitability. According to the latest savings program, an additional annual cost saving of one billion euros is to be made here by the end of 2026. It is still unclear how many jobs will be lost in Ludwigshafen.
Source: Stern
