|Bid||225.25 x 0|
|Ask||225.30 x 0|
|Day's range||223.60 - 226.30|
|52-week range||131.70 - 240.80|
|Beta (5Y monthly)||1.21|
|PE ratio (TTM)||19.48|
|Forward dividend & yield||6.00 (2.67%)|
|Ex-dividend date||30 Jun 2021|
|1y target est||159.27|
Volvo's board is proposing that the proceeds from the sale of UD Trucks be distributed to shareholders, the Swedish truckmaker said late on Tuesday. Volvo said in a statement that the proposal entailed a distribution of 9.50 crowns per share, corresponding to around 19 billion Swedish crowns ($2.3 billion), and that an extraordinary general meeting would decide on the proposal on June 29. "Key positives are the earlier-than-expected announcement (EGM as early as June 29) and the symbolic message with the chairman saying that the group's improved profitability, resilience in downturns and strong financial position underpins the decision," investment bank Citi said in a note.
Daimler Trucks and Volvo AB said on Thursday they aim jointly to cut the costs of hydrogen fuel cells by a factor of five or six by 2027 as they seek to make the zero-emission technology commercially viable for long-haul trucking. But even if cellcentric, the fuel-cell joint venture the two companies formed in March, brings down costs by that much, Martin Daum, head of Daimler AG's truck unit, said he doesn't see hydrogen-fueled trucks reaching cost parity with diesel models for at least 15 years. The German and Swedish makers of large freight-hauling trucks said cellcentric would start producing hydrogen fuel cells in Europe in 2025, and called for EU policies to help build out fueling infrastructure and provide subsidies and tax breaks to help make hydrogen trucks affordable for customers who want zero-emission models.
(Reuters) -European stocks moved towards record highs on Thursday, following a set of strong company earnings and as the European Central Bank left policy unchanged as expected. Heavyweight Nestle rose almost 3% after reporting its strongest quarterly sales growth in 10 years, while software group SAP and French spirits group Pernod Ricard were among some of the other stocks to surge after results. Credit Suisse, meanwhile, fell 2.1% after a hit from the collapse of U.S. investment fund Archegos wiped out what would have been a stellar trading period, leaving it with a slightly smaller-than-flagged quarterly pre-tax loss of 757 million Swiss francs.