(RTTNews) – German auto giant BMW AG (BMW, BMW.L, BAMXF.PK, BAMXY.PK) said on Wednesday that for 2022, it expects auto segment free cash flow to reach at least 7 billion euros.
The recognition of BBA’s cash on the balance sheet for the first time in the amount of approximately 5 billion euros will have a positive one-off effect.
As previously announced, the Management Board and the Supervisory Board will propose a dividend of 5.80 euros per ordinary share and 5.82 euros per preferred share for the 2021 financial year at the General Meeting. This represents a payout ratio of 30.7%.
By 2025, the company plans to sell around a quarter of its vehicles entirely online. Additionally, the company aims to have more than two million fully electric vehicles on the roads by 2025. BMW Group aims to have delivered a total of 10 million fully electric vehicles to its customers by 2030.
BMW also said it plans to add new jobs globally this year, which will grow its workforce by up to 5%. Current BMW employees will see a notable increase in their incentive bonus for 2021, in line with the Group’s net result.
In Germany, BMW shares were trading at 76.90 euros, up 2.10%.
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