Universal Music Group owner Vivendi saw its European stock price go above €22 per share last week for the first time in over five years.
Likely stimulated by rebel shareholder PSAM’s demands that Vivendi pay out €9bn in dividends to its stockholders – and its optimism over Universal Music Group’s future – VIV.PA hit a high on Wednesday (March 25), soaring above €23 per share, but this settled to €22.69 by the end of the week.
Vivendi’s European stock is traded on the Paris stock exchange.
American Hedge Fund, P. Schoenfeld Asset Management (PSAM), which owns slightly less than 1% of Vivendi, is encouraging fellow investors to push for a big one-off dividend payment.
PSAM is also demanding that Universal ‘goes independent’, citing its own research which optimistically suggests that the value of the global recorded music market will double by 2020 thanks to streaming.
Music Business Worldwide
