Lenzing falls as it suspends dividend policy for 2023

Lenzing AG

08/03/2023 09:28

** Shares in Lenzing  LENV.VI  fall 3.2%, on track for worst
day since Jan. 25, after the Austrian chemicals firm suspended
its dividend policy for financial year 2023
    ** "The Managing Board of Lenzing AG does not consider the
execution of the existing dividend policy of at least EUR 4.50
for the 2023 financial year to be appropriate," the company says
    ** It sees FY EBITDA in a range of 320 million to 420
million euros ($337.3 million to $442.7 million), expecting
further market recovery in the current year
    ** The stock is among worst performers on the Austrian
blue-chip index  .ATX 

($1 = 0.9487 euros)

 (Reporting by Ozan Ergenay)
 ((ozan.ergenay@thomsonreuters.com))