March 8, 2018 / 12:33 PM / 6 months ago

BMW proposes dividend of 4 eur per share on higher FY profit

FRANKFURT, March 8 (Reuters) - German carmaker BMW reported a 5.3 percent rise in 2017 operating profit as record demand for high-margin sports utility vehicles helped the carmaker offset higher research and development spending.

Full year earnings before interest and tax (EBIT) rose to 9.88 billion euros ($12.23 billion), helping the operating margin in its automotive division stay at 8.9 percent, compared with a year earlier, despite higher spending on electric and autonomous vehicle technologies.

BMW said it would propose a divided of 4 euros per common share. ($1 = 0.8078 euros) (Reporting by Edward Taylor Editing by Douglas Busvine)

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