Bill Anderson, Bayer CEO (Krisztian Bocsi/Bloomberg via Getty Images)

Bay­er plans 95% cut to div­i­dend as part of CEO Bill An­der­son­'s turn­around project

Bay­er stock­hold­ers will be get­ting a lot less re­ward for hold­ing their shares for the next few years.

The Ger­man gi­ant is plan­ning to dras­ti­cal­ly cut its div­i­dend, an­nounc­ing Mon­day a pro­pos­al to pay out €0.11 ($0.12) per share for 2023, or a 95% de­cline from the pre­vi­ous year’s div­i­dend of €2.40 ($2.59). The com­pa­ny plans to keep pay­outs at this min­i­mum lev­el for 2024 and 2025 as well, blam­ing the tri­fec­ta of high debt, high in­ter­est rates, and low free-cash flows.

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