Porsche SE raises voting rights share in Volkswagen

Porsche SE, the holding company controlling Germany’s Volkswagen, on Tuesday stated it raised its voting rights share in the automaker to 53.1 percent from 52.2 percent.

“We continue to believe that Volkswagen group has a significant potential to increase its value and that its current capital market valuation does not reflect this,” stated Porsche SE’s CEO Hans Dieter Poetsch.

He added that Porsche SE would boost its dividend by 26 percent, to 2.21 euros ($2.51) each share and that the company expected a net income of 3.4 to 4.4 billion euros in this year.