Continental to suspend annual dividend, citing net loss

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German auto supplier Continental will not propose any dividend for 2020 because it had chalked up a net loss for the year, it said Friday.

The company, which is due to release preliminary full-year results on March 9, added that it remained committed to a mid-term dividend policy of paying out 15-30 percent of net income to shareholders.

Continental, of Hanover, Germany, ranks No. 4 on the Automotive News list of top 100 global suppliers, with 2019 sales to automakers of $35.3 billion.

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Saurabh Shukla

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