March 2, 2017 / 7:37 AM / 9 months ago

Continental backs higher sales target, raises dividend

BERLIN, March 2 (Reuters) - Germany’s Continental AG has reinforced expectations for higher sales this year and plans to raise the dividend after posting profit near the high end of expectations.

“The start into the new year has confirmed the expectations set for 2017,” the company said on Thursday, citing a goal to raise sales to over 43 billion euros ($45.28 billion) from 40.5 billion in 2016.

The automotive supplier and tyre maker said it plans to increase the dividend to 4.25 euros per share from 3.75 euros in 2015. The group had already reported core results on Jan. 9.

$1 = 0.9497 euros Reporting by Andreas Cremer; Editing by Maria Sheahan

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