ESSEN, Germany, Nov 20 (Reuters) - German steelmaker ThyssenKrupp’s surprise dividend payment for its 2013/14 fiscal year is a sign of things to come, its chief executive said on Thursday.
ThyssenKrupp said earlier it would pay a dividend of 0.11 euros ($0.14) per share, restarting payouts a year earlier than expected as it returned to net profit but not yet to positive cash flow.
“Naturally that is not the kind of level we can be satisfied with in the long term. But it is a signal to our shareholders that we have reached a turning point in our earnings development and that we have faith in our future earnings,” Heinrich Hiesinger told a news conference.
$1 = 0.7990 euro Reporting by Georgina Prodhan; Editing by Maria Sheahan