Airbus Shares Rise After Management Backs Production, Dividend Goals
23 Settembre 2022 - 11:14AM
Dow Jones News
By Cristina Roca
Shares in Airbus SE traded higher Friday after the plane maker
backed its delivery targets despite the challenges it faces in its
supply chain, and said it was committed to growing shareholder
returns.
At 0833 GMT, shares traded 3.3% higher at EUR95.39.
Management struck an optimistic tone at the company's capital
markets day on Friday. Chief Executive Officer Guillaume Faury
backed the company's key target of producing 75 narrowbody planes a
month by 2025, from a projected rate of about 50 this year. The
company's efforts to ramp up its production rate have come under
close scrutiny recently as it contends with shortages in parts and
engines.
Management also stressed its intention to increase returns to
shareholders. Dividends will remain Airbus's preferred way of
returning cash, and should be toward the high end of a targeted
30%-40% payout ratio, Chief Financial Officer Dominik Asam
said.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
September 23, 2022 04:59 ET (08:59 GMT)
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