May 8, 2020 / 8:29 AM / a month ago

K+S slashes dividend for possible request for state aid

FRANKFURT, May 8 (Reuters) - German mineral miner K+S on Friday said it would cut its dividend to be eligible for state aid in the form of loans backed by the country’s development bank KfW.

The dividend proposal for 2019 is now for 4 euro cents per share, down from a previously proposed 15 cents per share, it said in a statement.

Reuters reported on Thursday that the salt and potash supplier was preparing a potential application for state aid as the company grapples with a high debt load and the fallout from the coronavirus pandemic. (Reporting by Ludwig Burger; Editing by Christoph Steitz)

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