Agnellis' Ifil pays no dividend after Fiat slump

Newswire

MILAN, March 28 (Reuters) - Holding Ifil , led by the Fiat -controlling Agnelli family, said on Friday it would not pay a dividend for 2002 when it made net losses at both group and parent company levels. Ifil said parent company Ifil SpA made a net loss of 516.4 million euros ($552.7 million) in 2002, hit by writedowns of its stakes in Fiat, Club Mediterranee and depreciation of its own shares. But the holding said in a statement it expected the parent would turn to profit in 2003. ...

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