Nissan Delivers Blow to Renault, Warns Dividend Is Undecided
- Nissan cuts fiscal year profit, sales outlook on weaker sales
- Nissan shares drop most since August in Tokyo trading
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Nissan Motor Co. withdrew its dividend outlook and said it’s now undecided on a payout, dealing an unexpected blow to top shareholder Renault SA.
The Japanese automaker, which slashed its profit and sales outlook for the current fiscal year to March, had already cut its dividend earlier this year. On Tuesday, it withdrew its outlook for a 40 yen-per-share payout for the year in a filing to the Tokyo Stock Exchange.