Wednesday, 16 November 2022 14:00

Siemens Energy scraps dividend amid wind sector turmoil

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Siemens Energy said it would not pay a dividend for its annual results, blaming a widening net loss and its troubled wind turbine unit Siemens Gamesa. The company posted a net loss of 647 million euros ($669 million) for the year ended Sept. 30. The company also took a charge of 200 million euros due to the restructuring of its partially sold Russian unit.

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