FCA to pay 2.9 billion euro special dividend to shareholders on January 29

Italian American automaker Fiat Chrysler Automobiles (FCA) said on Wednesday that the payment of a planned 2.9 billion euro ($3.5 billion) special dividend as part of its merger with French automaker PSA had “become unconditional”.

The special dividend, worth 1.84 euros per share, will be paid on January 29, FCA said.

FCA and Peugeot maker PSA expects to finish their $52 billion merger to create Stellantis, the world’s fourth largest automaker, on Saturday, after their investors gave their blessing to the plan the previous week.

The record date has been set to Friday, the day before the merger finalization, and only FCA investors on that date will be paid the extraordinary dividend.

FCA’s largest shareholder is Exor, the holding company of Italy’s Agnelli family, with a stake of just under 29%.