March 13, 2019 / 9:09 AM / 14 days ago

Rheinmetall hikes dividend, sees further growth driven by defence branch

BERLIN, March 13 (Reuters) - German automotive and defence company Rheinmetall increased its full-year net profit by 40 percent and hiked the dividend by one fourth, the company said on Wednesday, adding that it targeted further revenue growth boosted by its defence business in 2019.

Rheinmetall will propose a dividend of 2.10 euros ($2.37) per share, after its full-year net profit came in at 354 million euros, beating an analyst consensus in a Reuters poll which forecast a net income of 277 million euros and a dividend of 2 euros per share.

The company said it targeted to grow its revenue by 4 to 6 percent in 2019 - mainly driven by its defence units - and aimed to maintain its operative profit margin at around 8 percent.

$1 = 0.8858 euros Reporting by Tassilo Hummel Editing by Riham Alkousaa

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