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This would result in a dividend of 0.11 euros per share for 2023, which will also be proposed to the general meeting in April. The cuts are related to the level of debt, high interest rates and a tense situation with free cash flow. The step does not come as a surprise. “Reducing our debt and increasing our flexibility is one of our top priorities,” said Bayer CEO Bill Anderson, according to the statement. The new distribution policy, which also incorporates suggestions from investors, should help.