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Renault shares up 6% as carmaker plans dividend hike

Renault dealership photographed on July 12, 2021 in Berlin, Germany.

Jeremy Moeller | Getty Images Entertainment | Getty Images

Shares of Renault climbed in morning trade on Thursday, after the French carmaker said it would propose raising its dividend per share to 1.85 euros ($1.99) for the financial year, up from 0.25 euros previously.

Paris-listed shares were 6.1% higher at 8:50 a.m. London time.

The company on Wednesday reported a full-year group operating margin of 7.9%, which comes in towards the top end of its prior guidance. The automaker reiterated its target of double-digit margins by 2030.

Group revenue rose 13% to 52.4 billion euros, while net profit was slightly below forecasts, according to Reuters.

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Renault share price.

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