Bayer AG (BAYRY) announced plans to cut its dividend rate for 2023. Following a review of the company’s capital allocation priorities to reduce debt, BAYRY plans to amend its dividend policy to pay out only the legally required minimum for three years. Consequently, the decision will reduce the dividend to €0.11 per share for 2023 compared with €2.40 in 2022. This proposal comes as the company faces a high level of debt, coupled with high-interest rates and a challenging free cash flow situation. The ongoin ...