Renault shares surge on dividend boost

Shares in Renault made strong gains on Thursday after the French carmaker rewarded investors with a large dividend hike.

The company announced late on Wednesday that it was declaring €1.85 euro-a-share payout for 2023, up from 0.25 euros a year earlier.

Group revenue rose 13% to €52.4bn, while net profit was slightly below forecasts. Net profit was €2.315bn compared with a loss for 2022 of €716m, which included the automaker's exit from Russia, and missed an average estimate of €3.52bn.