Stellantis Announces a $4.4 Billion Special Dividend

Tesla often gets a lot of investors attention but there is another car company that many don’t know about that dwarfs Tesla and is immensely profitable. That company is Stellantis (STLA), which owns the Dodge, Chrysler, Jeep, Ram and Fiat brands, It was formed by the merger of Fiat Chrysler group and France‚Äôs PSA Group. In 2022 the company reported net profit of $18 billion on revenue of $191 billion. Stellantis’ EV sales in the US grew by 26% in 2022. The company is targeting global EV sales of 5 million by 2030.

The company recently announced a $4.4 billion special dividend payable to current shareholders and this is on top of its current annual dividend yield of 6.48%. They also announced a $1.6 billion share buyback program. Over the past 12 months STLA is up 15% while the general stock market is down -7.5%. Since the beginning of the year STLA is up 11% while the general stock market is up just 2%. All of this shows that STLA is in strong financial shape and is outperforming the market, which should make it a candidate for your watchlist.