1537 GMT - Dividends from Porsche Automobil Holding SE could be at risk, UBS analyst Patrick Hummel writes. The company withdrew full-year 2024 net income guidance due to impairments on its two key holdings in Porsche AG and Volkswagen, which had carrying values well above the current market prices. The charges are non-cash in nature, so the company reiterated its year-end net debt guidance, Hummel says. Porsche SE has mentioned that a dividend payment for 2024 can still be expected, but there is no quantification. With the risk of lower dividend income from its two key holdings and a sizeable debt maturity schedule in the coming years, UBS says the company might need to cut dividends. Shares fall 2.9% to 34.98 euros. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
December 16, 2024 10:37 ET (15:37 GMT)
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