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Stada reports rise in Q4 underlying profit, raises dividend
March 1, 2017 / 7:43 AM / 9 months ago

Stada reports rise in Q4 underlying profit, raises dividend

FRANKFURT, March 1 (Reuters) - German generic drugmaker Stada, which has become the target of three separate takeover offers, reported a 14 percent jump in underlying quarterly profit on Wednesday and raised its annual dividend.

Stada, which also makes branded non-prescription treatments and diagnostic kits, said fourth-quarter adjusted net income rose to 44 million euros ($46 million) from 39 million a year earlier.

But reported net earnings slipped to a loss of 7.4 million euros in the three months through December, from a year-earlier profit of 20.5 million, it said.

Stada nonetheless raised its dividend to 0.72 euros per share from 0.70 euros a year earlier, compared with Thomson Reuters analyst consensus for 0.74 euros. ($1 = 0.9489 euros) (Reporting by Maria Sheahan; Editing by Georgina Prodhan)

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