March 8, 2017 / 7:20 AM / 5 months ago

Schaeffler expects higher 2017 sales, will raise dividend

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GENEVA, March 8 (Reuters) - German auto parts supplier Schaeffler expects to increase sales this year after posting higher revenue and profit in 2016 and proposes to raise the dividend, it said.

Sales adjusted for foreign exchange rate effects may rise between 4 and 5 percent, compared with 3.4 percent growth last year, the company said in a statement on Wednesday.

Earnings growth from automotive operations may outpace an expansion in global car production while sales in the industrial division may be flat, Schaeffler said.

The company wants to increase the dividend from 35 cents to 50 cents per preference share. (Reporting by Andreas Cremer; Editing by Georgina Prodhan)

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