By Pierre Bertrand

Volkswagen AG shareholders approved on Friday a special dividend of 19.06 euros ($20.26) per ordinary and preferred share during the company's extraordinary general meeting.

The payout to shareholders corresponds to 49% of the gross proceeds generated by the initial public offering of Porsche AG, the German car maker said.

Volkswagen said shareholders approved that the payout will be distributed on Jan. 9.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

December 16, 2022 11:20 ET (16:20 GMT)

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