GERMANY: Record earnings spur Porsche to propose increased dividend

By just-auto.com editorial team | 16 November 2004

Porsche has proposed increasing its dividend to €4 ($US5.18) per preference share for the fiscal year ended July after posting record earnings, according to a news agency report.

Porsche's hot-selling Cayenne SUV helped drive pre-tax profits to $1.41 billion, just missing the average expectation of $1.45 billion in a Reuters poll of 13 analysts.

Net income rose to $793 million, lagging market expectations, but the sports car specialists forecast more growth in 2004-05 without being more specific, the report said.