Airbus Plans Special Dividend, Takes New Space Charge

Europe's Airbus has unveiled a special dividend after posting higher 2023 results, buoyed by resurgent demand for jetliners and despite a fresh charge of 200 million euros ($215 million) at its troubled Space business, Tim Hepher reported for Reuters.

The world's largest commercial planemaker said core adjusted operating profit rose 4% to 5.8 billion euros as revenue climbed 11% to 65.4 billion.

The world's largest commercial planemaker said core adjusted operating profit rose 4% to 5.8 billion euros as revenue climbed 11% to 65.4 billion and predicted core profit of 6.5 to 7.0 billion euros in 2024.

For the fourth quarter, adjusted earnings came in just below market forecasts compiled by the company at 2.21 billion euros.

Airbus is riding a wave of orders from airlines coping with a rebound in travel demand from the pandemic, helping it to build up cash reserves in contrast with US rival Boeing which is mired in debts stemming from a series of crises.

Airbus proposed an unchanged regular dividend of 1.8 euros a share and added a special dividend of 1 euro per share as net cash topped the 10-billion-euro threshold previously identified as a potential trigger for returning more cash to shareholders.

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