Daimler Raises Dividend After 2020 Profit Increase
By Kim Richters
Daimler AG said Thursday net profit for 2020 increased and it
proposed a higher dividend for the year.
Net profit for 2020 rose to 3.63 billion euros ($4.37 billion)
from EUR2.38 billion a year earlier, the German premium car maker
After tax profit for the fourth quarter was EUR3.59 billion,
compared with a loss of EUR11 million in the same period a year
earlier, it said.
Revenue for the full year fell 11% to EUR154.31 billion, while
quarterly revenue came in 1% lower at EUR46.62 billion.
Daimler had already released some preliminary figures for 2020,
with earnings before interest and taxes of EUR6.60 billion and
adjusted EBIT of EUR8.64 billion.
It now proposed a dividend of EUR1.35 a share for 2020, up from
EUR0.90 per share for 2019. In 2018, the dividend was EUR3.25.
Looking ahead, Daimler expects group sales, revenue and EBIT in
2021 to be significantly above the prior-year level. Sales in the
first quarter should be affected by the semiconductor shortage the
industry is currently facing, it said.
Write to Kim Richters at firstname.lastname@example.org
(END) Dow Jones Newswires
February 18, 2021 02:22 ET (07:22 GMT)
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