STMicro's Government Shareholders Said in Favor of Dividend Cut

Updated on
  • Company has paid 40-cent dividend per share annually since '11
  • Dividend yield at over 5% is highest among Europe tech stocks

STMicroelectronics NV’s largest shareholders, the French and and Italian governments, are pushing for a dividend cut to allow the chipmaker to invest more in research and development, according to people familiar with the matter. The shares extended their declines in Paris and Milan.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.