HANOVER, Germany—Continental A.G.'s executive board has proposed a suspension of the dividend for fiscal 2020 to the annual shareholder meeting on April 29.
The decision reflected a "negative net income attributable to the shareholders" in financial figures being prepared for 2020, according to a Feb. 19 announcement.
Continental said it "remains committed to its targeted mid-term dividend payout ratio of 15 percent to 30 percent of the net income attributable to the shareholders of the parent."
A meeting for the adoption of the financial statements for fiscal 2020 by the supervisory board is planned in March 2021.
Preliminary financial figures for fiscal year 2020 will be released on March 9.