Organon Shares Tumble on Cut Dividend, Weaker 1Q Results

Dow Jones

May 01

By Denny Jacob

Organon shares tumbled 18% in premarket trading after the company cut its dividend and issued weaker quarterly results compared with the prior year.

Shares were trading around $10.60. The stock was down 13% on the year as of Wednesday's close.

The Jersey City, N.J., pharmaceutical company cut its quarterly dividend to 2 cents a share, down from the prior 28 cents a share. Chief Executive Kevin Ali said the company reset its capital-allocation priorities to accelerate its progress toward deleveraging.

Organon logged net income of $87 million on revenue of $1.51 billion in the first quarter, down from $201 million in net income on $1.62 billion in revenue in the prior-year period.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

May 01, 2025 09:09 ET (13:09 GMT)

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The stock was down 13% on the year as of Wednesday's close. \n\n\n  The Jersey City, N.J., pharmaceutical company cut its quarterly dividend to 2 cents a share, down from the prior 28 cents a share. Chief Executive Kevin Ali said the company reset its capital-allocation priorities to accelerate its progress toward deleveraging. \n\n\n  Organon logged net income of $87 million on revenue of $1.51 billion in the first quarter, down from $201 million in net income on $1.62 billion in revenue in the prior-year period. \n\n\n \n\n\n  Write to Denny Jacob at denny.jacob@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 01, 2025 09:09 ET (13:09 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}