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Volvo Owners to Get $2.3 Billion Payout From UD Trucks Sale

  • Distribution is a show of strength in wake of market downturn
  • Divestiture was agreed to in October along with a partnership
Updated on

Volvo Group shareholders are in line for a big payout, with the truckmaker planning to pass along all of the proceeds from the sale of a Japanese business unit earlier this year.

The company announced plans to distribute to investors all of the roughly 19 billion Swedish kronor ($2.3 billion) it received from the sale of UD Trucks to Isuzu Motors, sending shares up as much as 3.6% shortly after the open of regular trading Wednesday.