Lafarge to halve dividend

Lafarge to halve dividend
Published: 21 February 2011

Lafarge proposed a 50 percent cut to its dividend and pledged to reduce debt by at least EUR2bn this year to protect its investment-grade credit rating.

Net income was EUR62m in the fourth quarter, in line with analysts’ estimates, compared with a EUR38m loss a year earlier. Shareholders will be asked to approve a dividend of 1 euro a share, the Paris-based company said in a statement today.