Daimler Proposes Higher Dividend as Net Profit Soars
By Max Bernhard
Daimler AG (DAI.XE) proposed its highest dividend to date while reporting its net profit rose 49% in the fourth quarter.
Net profit was 3.20 billion euros ($3.98 billion) in the fourth quarter, up from EUR2.21 billion a year earlier, Daimler said. Revenue increased to EUR43.59 billion from EUR41.00 billion.
The maker of Mercedes-Benz cars said it would raise its dividend to EUR3.65.
Analysts had expected a profit of EUR3.23 billion and revenue of EUR43.66 billion, according to a consensus estimate provided by FactSet.
Daimler said that for 2018 it expects slight growth in unit sales and revenue, while earnings before interest and taxes are forecast at the 2017 level.
Write to Max Bernhard at Max.Bernhard@dowjones.com; @mxbernhard
Corrections & Amplifications
This item was corrected on February 1, 2018 at 0805 GMT to reflect that Daimler's net profit was 3.20 billion euros ($3.98 billion) in the fourth quarter. The original incorrectly said the company's net profit was 3.29 billion euros.
(END) Dow Jones Newswires
February 01, 2018 02:34 ET (07:34 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.