I am a loyal shareholder of FAURECIA, who is now rather disgusted by management’s behaviour. In 2020, I asked you about the cancellation of the dividend for 2019. You replied that it was an exceptional measure, due to the health crisis, in order to preserve cash flow. For 2020, the amount of the coupon was reduced compared to 2018. And in 2021 and 2022, you made the exception a rule. How do you expect individual investors to have confidence in people like you? Dividends are a determining factor in the decision to invest in a particular company, especially when, as is the case with FAURECIA, the valuation of the individual shareholder’s capital is very hypothetical and random. Can you establish and announce once and for all in a serious and predictable manner a shareholder remuneration policy, something you promised a few years ago, but you did not follow through on your commitment? It would be nice if you did so with the same thoroughness and mindset as those you put to establishing your own remuneration.

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Continue ReadingI am a loyal shareholder of FAURECIA, who is now rather disgusted by management’s behaviour. In 2020, I asked you about the cancellation of the dividend for 2019. You replied that it was an exceptional measure, due to the health crisis, in order to preserve cash flow. For 2020, the amount of the coupon was reduced compared to 2018. And in 2021 and 2022, you made the exception a rule. How do you expect individual investors to have confidence in people like you? Dividends are a determining factor in the decision to invest in a particular company, especially when, as is the case with FAURECIA, the valuation of the individual shareholder’s capital is very hypothetical and random. Can you establish and announce once and for all in a serious and predictable manner a shareholder remuneration policy, something you promised a few years ago, but you did not follow through on your commitment? It would be nice if you did so with the same thoroughness and mindset as those you put to establishing your own remuneration.

We know that the company has two ways to return profits to shareholders: dividends and share buybacks. I noticed that your company has been very active in the use of share buybacks in recent years. So, I’d like to know why you bought back the stock rather than only paying out dividends? What are the reasons for you to buy back your own stock? And what are the differences for you between buybacks and dividends? In addition, on what criteria do you base your allocation between share buybacks and dividends? I am aware that you have an employee share ownership plan, but could you give me reasons other than these, please, because I found that there was a significant difference between your share buyback program and the needs of the employee share ownership plan.

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Continue ReadingWe know that the company has two ways to return profits to shareholders: dividends and share buybacks. I noticed that your company has been very active in the use of share buybacks in recent years. So, I’d like to know why you bought back the stock rather than only paying out dividends? What are the reasons for you to buy back your own stock? And what are the differences for you between buybacks and dividends? In addition, on what criteria do you base your allocation between share buybacks and dividends? I am aware that you have an employee share ownership plan, but could you give me reasons other than these, please, because I found that there was a significant difference between your share buyback program and the needs of the employee share ownership plan.

We know that the company has two ways of returning profits to shareholders: dividends and share buybacks. I would like to know why you have chosen to distribute profits in both forms rather than just dividends, i.e. why did you choose to buy back shares? In addition, what are the criteria on which you base this I would like to know why you have chosen to distribute earnings in both forms rather than just dividends, i.e. why you have chosen to buy back shares?

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Continue ReadingWe know that the company has two ways of returning profits to shareholders: dividends and share buybacks. I would like to know why you have chosen to distribute profits in both forms rather than just dividends, i.e. why did you choose to buy back shares? In addition, what are the criteria on which you base this I would like to know why you have chosen to distribute earnings in both forms rather than just dividends, i.e. why you have chosen to buy back shares?