Stellantis (STLA) Stock News, Apr 13-26, 2023

Stellantis has been recognized by Winds of Change magazine as one of the top companies for recruiting and developing Indigenous STEM professionals, marking its fourth consecutive year on this prestigious list. This recognition underscores Stellantis' commitment to diversity and inclusion as a core element of its customer-centric business strategy.

The ranking celebrates Stellantis' Indigenous Cultural Opportunity Network (ICON), which aims to enhance career opportunities for Indigenous professionals in the STEM fields. Stellantis also ranked third in DiversityInc's 2022 Top Companies for Supplier Diversity specialty list, further affirming its dedication to fostering an inclusive workplace.

As a leading global automaker, Stellantis is focused on sustainable mobility while creating value for stakeholders and communities.

Stellantis N.V. has reported on its first tranche of the share buyback program initiated on March 16, 2023. The program, amounting to €500 million, is set to run until June 19, 2023. As of April 20, 2023, Stellantis repurchased a total of 1,124,884 shares during the week of April 14-20, at an average cost of €16.87 per share, totaling approximately €18.98 million for this period. Since the program's start, the company has acquired 3,703,624 shares for a total of €61.31 million. Following these transactions, Stellantis holds 72,829,168 shares in treasury, equating to 2.27% of the total issued share capital. This initiative aims to enhance shareholder value and optimize capital structure.

Stellantis is concluding tests on eFuels for 28 engine families to reduce carbon emissions in its fleet of internal combustion engines (ICE) in Europe. While aiming for 100% battery electric vehicle (BEV) sales in Europe by 2030, eFuels could cut CO2 emissions by up to 90% and affect around 28 million vehicles. The initiative could potentially reduce emissions by 400 million tons from 2025 to 2050. CEO Carlos Tavares emphasized that this step complements their electrification strategy and helps address emissions from existing ICE vehicles. Stellantis aims for carbon neutrality by 2038, backed by an investment of over €30 billion by 2025 towards electrification and software development.

Stellantis N.V. announces the appointment of Natalie Knight as the new Chief Financial Officer effective July 10, 2023, replacing Richard Palmer. Knight is currently the CFO at Ahold Delhaize and has a robust background in finance, including roles at Arla Foods and adidas AG.

CEO Carlos Tavares expressed confidence in Knight's ability to drive Stellantis' Dare Forward 2030 strategy, emphasizing her expertise in business transformation and ESG focus. Richard Palmer will leave the company on June 30, 2023, after a distinguished 20-year career, contributing significantly to Stellantis' merger and integration.

This leadership change marks a strategic move for Stellantis as it aims to enhance its financial performance and operational efficiency.

On April 16, 2023, Matt Hagan achieved his third win in the 2023 NHRA Camping World Drag Racing Series by driving the Dodge Charger SRT Hellcat Funny Car to victory at the Four-Wide Nationals in Las Vegas. This win marks his second consecutive victory at the Strip and his fifth career win in Las Vegas. Hagan's performance included a winning time of 3.943 seconds against competitors Tim Wilkerson, John Force, and Chad Green, solidifying his lead in the Funny Car points standings with a margin of 105 points. Notably, Tony Stewart, team owner of Hagan's racing team, also secured his first NHRA national win in the Top Alcohol Dragster class during the event. This victory underscores the competitive strength of the Tony Stewart Racing team and the performance of Dodge vehicles in NHRA competitions.

Stellantis N.V. has announced the release date for its First Quarter 2023 Shipments and Revenues, which will be made public on May 3, 2023. A live audio webcast and conference call will begin at 2:00 p.m. CEST / 8:00 a.m. EDT on the same day. Investors can view the related press release and presentation materials on Stellantis' corporate website starting at 8:00 a.m. CEST / 2:00 a.m. EDT. Additionally, a recorded replay will be available for those unable to join the live session. Stellantis, a leader in the automotive industry, is focused on innovative products and sustainable mobility solutions.

Stellantis announced its progress on the First Tranche of its Share Buyback Program, initiated on March 16, 2023, with a total budget of €500 million. As of April 13, 2023, the company repurchased 605,000 shares during the week of April 7-13 at an average price of €16.8155 per share, totaling €10,173,391 for this period. Cumulatively, from March 17 to April 13, Stellantis has bought 2,578,740 shares for €42,330,853. This buyback initiative aims to enhance shareholder value, offering a strategic approach to managing capital and potentially increasing earnings per share (EPS).

Stellantis held its 2023 Annual General Meeting on April 13, 2023, where all shareholder resolutions were approved. Notably, a EUR 4.2 billion dividend distribution was sanctioned, amounting to EUR 1.34 per common share, translating to USD 1.463548 for NYSE-listed shares. This payout is sourced from the profits recorded in the 2022 Annual Accounts. Key dates for shareholders include an ex-date of April 24, 2023, a record date of April 25, 2023, and a payment date scheduled for May 4, 2023. Additionally, the advisory vote on the 2023 Remuneration Report showed 80.4% approval for sections without pre-merger legacy matters and 51.9% for those with legacy matters. These outcomes reflect Stellantis' commitment to incorporating shareholder feedback.

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