Renault Shares Surge 6% on Major Dividend Boost 🚗

Renault shares rose 6% after the French automaker announced plans to significantly increase its dividend per share to $1.99 from 27 cents previously. The company reported a full-year operating margin of 7.9%, towards the top end of its prior guidance. Revenue increased 13% to $56.4 billion, while net profit was slightly below analyst forecasts. Renault is targeting an operating margin of at least 7.5% and a free cash flow of over $2.69 billion in 2024. The company will focus on 10 upcoming vehicle launches, optimizing costs and accelerating its EV and software strategy.