Deutsche Post to raise dividend after earnings jump in 2004

Deutsche Post, the semi-privatised German postal authority, said Tuesday it would increase its dividend to shareholders after earnings rose sharply in 2004.

Deutsche Post said in a statement it would propose raising the dividend to 0.50 euros (0.66 dollars) per share for 2004 from 0.44 euros a year earlier after group net profit rose by 21.3 percent to 1.59 billion euros last year.

Operating profit, as measured by earnings before interest, tax and amortisation (EBITA), was up 12.5 percent at 3.35 billion euros and sales grew by 7.9 percent to 43.17 billion euros, the company said.

All divisions achieved their 2004 targets and reported an increase in earnings.

Full details of 2004 results would be published on March 22, Deutsche Post said.