(Bloomberg) — Volkswagen AG cut its dividend after losing 2.4 billion euros ($2.8 billion) in the second quarter, when the Covid-19 pandemic shuttered showrooms and factories in key markets.The German manufacturer lowered its proposed 2019 payout by a quarter to help save roughly $1 billion after global deliveries contracted in the six months through June. VW expects markets to recover in the second half after business in July improved from the previous month.The results show the dramatic impact of the industry’s biggest slump since World War II. Europe’s largest automaker cut its full-year outlook in April, echoing peers and parts …read more
Source:: Yahoo Finance
