Dividend payment: Varta share increases: Varta should pay dividend for 2021...

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Varta major shareholder Michael Tojner announced this in an interview with the Frankfurter Allgemeine Sonntagszeitung. “So far we have invested 100 percent of all profits back into the company,” said Tojner. “Now is the time to involve shareholders. Next year there should be a significant dividend.” He will work for this – “of course with the support of the board of directors”. The Austrian entrepreneur Tojner took over the microbattery division of the traditional German group Varta in 2007 for 30 million euros from the industrial family Quandt and Deutsche Bank. Varta has been listed on the Frankfurt Stock Exchange since 2017, and its market value is currently around 4.5 billion euros. Tojner controls more than half of the shares through its holding company Montana Tech Components.

There is great hope that Varta could also become a manufacturer of batteries for electric cars. “We will implement the larger battery formats on a pilot line in the coming year and thus open up new business areas,” says Tojner.

Varta notes ultimately gained 0.73 percent to 110 euros in XETRA trading.

FRANKFURT (Dow Jones)

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