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FCA beats third-quarter earnings, announces 2.27-billion dividend
According to Reuters, on Tuesday "Fiat Chrysler reported better-than-expected third-quarter earnings and promised to pay 2 billion euros (.27 billion) in extraordinary dividends using proceeds from the Magneti Marelli sale."
A week ago, FCA made a deal to sell its partsmaker to Japan's Calsonic Kansei for 6.2 billion euros, Reuters reported. FCA will begin to pay a regular quarterly dividend in 2019.
"The world's seventh-largest carmaker said on Tuesday adjusted earnings before interest and tax (EBIT) for the July-September period rose 13 percent to 1.995 billion euros, compared with 1.87 billion euros in a Reuters poll of analysts," the news service reported.
FCA maintained guidance for the remainder of 2019. The automaker is now overseen by former Jeep-head Mike Manley, who became CEO after the sudden death of Sergio Marchionne earlier this year.
Shares were flat in pre-market trading Tuesday, at .
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