Health
Bayer Cuts Dividend by 95% as It Wrestles With Roundup Woes
- Move could save €2.3 billion a year but isn’t enough: analyst
- New policy considered investor input and wasn’t easy, CEO says
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Bayer AG plans to slash its dividend by 95% in an effort to dig itself out of a hole created by the acquisition of Monsanto Co. that saddled the German company with massive debt and waves of litigation.
While a dividend cut was expected, the reduction highlights the challenges facing the drug and crop sciences company as it tries to stem its cash drain, rebuild its pharmaceutical pipeline and recover from the $63 billion takeover of the owner of Roundup herbicide in 2018.