RENK proposes €0.58 dividend at June AGM amid governance changes and hedge‑fund short‑interest

German defence‑technology group RENK held a virtual annual general meeting on 10 June. Shareholders were asked to approve a dividend of €0.58 per share, with an ex‑date of 11 June and payment scheduled for 15 June. The agenda also included a proposed controlling‑share agreement between Renk Group AG and Renk GmbH to tighten internal financing, and a change on the supervisory board where Claus von Hermann will be replaced by Dr Klaus Richter.

Analysts remain optimistic despite a recent 9 % weekly share‑price decline, with an average target of €71.4 and buy recommendations from six of seven surveyed houses. The company cites a €6.9 billion order backlog and strong defence‑sector demand, including a potential €650 million tank program for the German army.

Short‑seller activity was highlighted: AQR Capital Management cut its net short position from 2.19 % to 2.09 % of RENK’s shares, while total reported short interest exceeds 4 % with other funds such as PDT Partners, Marshall Wace and Capital Fund Management also holding positions.