Porsche Automobil Holding SE (PAH3.XE) said late Thursday the holders of the automaker's voting stock, the Porsche and Piech families and the emirate of Qatar, decided to abstain from their respective dividend payments for the truncated fiscal year 2010 and pass them on to the company's preference shareholders.
The owner families and the emirate of Qatar "intend to honor the continued support of the holders of the preference shares, with a view to the capital increase implemented in April 2011 and the low dividend for the two past fiscal years," Porsche said in a statement.
Porsche's preference shares don't carry voting rights. Porsche's truncated fiscal year 2010 comprises the August-to-December period last year.
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