October 10, 2019 / 9:46 PM / a month ago

Thyssenkrupp's top shareholder says never called for special dividend

FILE PHOTO: A logo of Thyssenkrupp AG is pictured at the company's headquarters in Essen, Germany, November 21, 2018. REUTERS/Thilo Schmuelgen/File Photo

FRANKFURT (Reuters) - Thyssenkrupp’s (TKAG.DE) largest shareholder on Thursday dismissed speculation that it had backed calls for a special dividend.

The Alfried Krupp von Bohlen und Halbach foundation, Thyssenkrupp’s top investor with a 21% stake, had previously remained silent on the subject, even after activist fund Cevian last week denied such demands had been made.

“The foundation has never demanded a special dividend,” it said.

Some German media had speculated that Cevian called for a special dividend, to be paid out of potential proceeds from a planned sale or listing of Thyssenkrupp’s elevator division, adding the foundation had supported such calls.

Reporting by Christoph Steitz; Editing by Sonya Hepinstall

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