Another tough decision for Bayer as it plans to slash dividend by 95% to reduce debt

Since he took over as CEO at Bayer nine months ago, Bill Anderson had had to make tough decisions to try to get the floundering conglomerate back on track.

Bayer revealed one of them on Monday, saying it plans to slash its investor dividends to help reduce the company’s debt. Over three years, Bayer intends to pay out the legal minimum. For 2023, that comes to €0.11 per share compared to the €2.40 the company paid out per share in 2022.